Loan Modifications and Chapter 7 Bankruptcy

06/01/2012

12 Comments

 
Loan modifications continue to be a hot topic among homeowners in financial distress, and the excitement is not unwarranted.  For a homeowner that has fallen behind on mortgage payments, the possibility of lowering monthly payments while also bringing the account current can be a truly exciting proposition. 

However, what surprises me and many other bankruptcy attorneys in North Carolina is the notion that bankruptcy and loan modifications are mutually exclusive options.  What many individuals do not realize is that bankruptcy can be filed in conjunction with negotiating a loan modification. 

With Chapter 7 Bankruptcy, for example, it is possible to file bankruptcy in order to deal with unsecured debts, such as credit cards and medical bills, and then, almost immediately thereafter, apply for a loan modification.  Alternatively, individuals may apply first for a loan modification and then file for Chapter 7 bankruptcy after the loan modification is completed.  When a Chapter 7 Bankruptcy is combined with a loan modification, the result can be an extraordinary debt-fighting strategy.

For more mortgage relief information, feel free to contact a mortgage relief and bankruptcy lawyer in North Carolina, Jefferson Mabrito, at 704-209-7540

 


Comments

Bradenton lawyers link
07/02/2012 4:28am

Thanks for giving a picture of loan modification and bankruptcy is nice to read your post and point about this two topics.

Reply
motor vehicle accident attorney link
09/27/2012 7:15am

Some of the information in your article is which I have not aware of. I like the article. It is informative. Looking forward to read many more such informative articles and blog posts.

Reply
OFAC link
07/02/2012 5:52am

You share a nice information and a very useful chapter regarding modification in loan policies and the bankruptcy

Reply
sekar link
07/14/2012 5:59am

loan policies modification are good thinking to getting the loan fast and worth able to the clients.

Reply
GOPAL link
07/16/2012 6:20am

yaa.this law procedures are more useful for the land brokers and the real estate business makers.

Reply
foreclosure law link
07/23/2012 8:52am

I think the things you covered through the post are quiet impressive, good job and great efforts. I found it very interesting and enjoyed reading all of it...keep it up, lovely job.

Reply
samlee link
07/27/2012 3:05am

Putting your money in a safe place is very necessary when as we never know what exactly the future holds. As a result of these uncertain market trends, making wise business investments is always a good idea.

Reply
Bankruptcy lawyers in Miami link
09/13/2012 2:06am

This is important post because it contains very sensible advice for all users because these unique interesting points show reality and conclusion for the topic.

Reply
Fort Lauderdale short sale link
09/21/2012 9:27am

Your blog is extremely impressive because this post contains very sensible advice for all users. I appreciate the effort you made to share the knowledge.

Reply
Ben Smith link
09/25/2012 1:52am

Hey guys, thank you for your matured stuff. These days I was told that bankruptcy and loan modifications are two end poles. But only I got an enlightened chapter. Good to follow you guys!

Reply
www.joeygilbertlaw.com link
04/02/2013 6:56am

Your thinking toward the respective issue is awesome also the idea behind the blog is very interesting which would bring a new evolution in respective field.

Reply
click link
04/05/2013 3:49am

Loan modifications continue to be a hot topic among homeowners in financial distress, and the excitement is not unwarranted. I found this blog to be an useful one. Thank you for updating useful information like this. Keep up you good work.

Reply



Leave a Reply