Foreclosure, Chapter 13, Mortgage Modification an Effective Foreclosure

When a Mortgage Company files a Foreclosure, it essentially has one objective: To sell your house at a sheriff’s sale to themselves or a 3rd party bidder. The result is the same: YOU LOSE YOUR HOUSE! What to Do? Chapter 13. There is the tradition Chapter 13 to save your home, and now a second way […]

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Chapter 13 Foreclosure Mortgage Video

Eliminating 2nd Mortgages Also Called Stripping or Cramming Down

WOULDN’T IT BE NICE TO GET RID OF A 2ND MORTGAGE AND SAVE THOUSANDS OF DOLLARS? Homeowners  and other property owners often discover that their property’s market  value is less than the balance of the first mortgage. On top of that  many have second mortgages and/or Home Equity Loans. How do you keep the property and

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Mortgage Video

Can You Eliminate An Underwater 2nd Mortgage In A Chapter 7?

Sadly the Supreme Court of the United States in a unanimous decision  held that a Chapter 7 Debtor cannot wipe out an underwater second  mortgage. The case is Bank of America, N.A. v Caulkett, 575 U.S. _ (2015)(June 1, 2015) An example of an underwater 2nd mortgage would be as follows: This  case did not change anything

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Chapter 7 Mortgage Video

Should I Reaffirm My Mortgage In Chapter 7 Bankruptcy?

Often times a person who files Chapter 7 has a home mortgage. Sometimes a first and second mortgage. The client  is current on the monthly mortgage. They ask: “Should I reaffirm my  mortgage”? Lawyers who represent Chapter 7 individuals say “No”. This includes my firm, Robert J. Adams & Associates. In  the final analysis the choice is

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Chapter 7 Mortgage Video

What Are Second Mortgages, Judgment Liens And Tax Liens

What Are Second Mortgages, Judgment Liens And Tax Liens In Foreclosure? When foreclosure cases are filed it is common to see defendants other than the property owner. Mortgage  companies get title searches before filing a foreclosure. The title  search will show entities that have liens on the property. Common  additional defendants include junior mortgagees; Judgment

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Liens Mortgage
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