mortgage simple definition: Should I Pay My Mortgage After Bankruptcy?

Should I Pay My Mortgage After Bankruptcy?

Should I Pay My Mortgage After Bankruptcy?. Can Chapter 13 bankruptcy help with a mortgage modification?

Should I Pay My Mortgage After Bankruptcy? video duration 2 Minute(s) 7 Second(s), published by Drescher & Associates, P.A. on 18 08 2017 - 21:00:01.

Thoughts from a Maryland Bankruptcy Lawyer Should I pay my mortgage after bankruptcy? Well, that really depends upon if you want to keep your home VA Loans for Vets NMLS#184169 5050 North 40th Street, Ste 260 Phoenix, AZ 85018 602-908-5849 Jimmy Vercellino is one of the nation's top VA Home Loan .

Please forward this to anyone you care about who has filed for bankruptcy
Many Americans find themselves bogged down with a bad credit rating for the wrong Nicki Pike gives us advice on purchasing a home after Bankruptcy
To learn more about Nicki Pike go to http://www.mortgagewithnicki.com/ To learn more about Attorney Jim Monroe discusses how a Chapter 13 bankruptcy can help with a mortgage modification
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Thoughts from a Maryland Bankruptcy Lawyer

Should I pay my mortgage after bankruptcy? Well, that really depends upon if you want to keep your home. IF you do, you're going to have to continue to pay the normal, monthly payment on your bankruptcy.

That's true if you're in chapter 7 or if you're in chapter 13. Now, if you're in chapter 7 and the mortgage company has been foreclosing on your home and refusing to accept your payments, after you file bankruptcy, they'll probably resume accepting the payments, but once you added bankruptcy, and that's usually a 90-100-day period, they can resume the foreclosure sale and then refuse to take your payments.

So, paying the mortgage under those circumstances doesn’t buy you a whole lot. If you're in chapter 13 though, and you've been in foreclosure but your you're going to try to keep your home by curing the arrears in chapter 13, which you are allowed to do, then by all means, yes, you must resume making your mortgage payments if the mortgage company has been refusing them to accept them before the bankruptcy.

This way, you're going to be making two payments during the chapter 13; one to the mortgage company and one to the chapter 13 trustee to help cure the arrears on your home mortgage. This is why chapter 13 can sometimes be a difficult way to try to keep your home, because you're making those two payments for 36 or 60 months depending on your case.

Ronald J. Drescher
Drescher & Associates, P.A
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Rondrescher@Drescherlaw.com
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Practicing in Maryland, Delaware, Virginia, Pennsylvania