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Disappearing Equity Lines And Mortgage Foreclosure
It’s hard enough now to get a new home equity credit line. Lenders have restricted their underwriting guidelines, subprime lenders have closed, and real estate values have declined. But surprise, surprise, even those who already have an equity line may find that is has suddently disappeared. The NY Times is reporting that major lenders are […]
Four Reasons To File Chapter 13 Bankruptcy
Here are what I’d consider to be the four main reasons why someone might file Chapter 13 bankruptcy instead of Chapter 7: 1. You need a repayment plan to reinstate mortgage arrears. 2. You have non-exempt assets that would be liquidated (sold) by a Chapter 7 trustee. 3. You don’t qualify for Chapter 7 under […]
Disappearing Equity Lines And Mortgage Foreclosure
/in Foreclosure & Loan Mod Blog /by Scott LaninIt’s hard enough now to get a new home equity credit line. Lenders have restricted their underwriting guidelines, subprime lenders have closed, and real estate values have declined. But surprise, surprise, even those who already have an equity line may find that is has suddently disappeared. The NY Times is reporting that major lenders are […]
Four Reasons To File Chapter 13 Bankruptcy
/in Foreclosure & Loan Mod Blog /by Scott LaninHere are what I’d consider to be the four main reasons why someone might file Chapter 13 bankruptcy instead of Chapter 7: 1. You need a repayment plan to reinstate mortgage arrears. 2. You have non-exempt assets that would be liquidated (sold) by a Chapter 7 trustee. 3. You don’t qualify for Chapter 7 under […]