If you have a reverse mortgage and are worried about foreclosure, you may be looking at bankruptcy. So, will bankruptcy keep your home protected? First, you should know what a reverse mortgage is and how it works. So, How Does a Reverse Mortgage Work? A reverse mortgage is a loan. However, the homeowner needs to be [...]
During this uncertain time, you may be concerned about what options are available to save your home. Well, the good news is that you have options. Many banks are offering payment relief options. In fact, in the state of California, the Governor has offered temporary relief from evictions and foreclosures. But, you may want to [...]
According to a recent USA TODAY article, many seniors that took out reverse mortgages are now facing foreclosure. This is even more prominent in African American neighborhoods. So, are you in danger? First, you should know what a reverse mortgage is and how it works. So, How Does a Reverse Mortgage Work? A reverse mortgage [...]
Coming to the decision to file for bankruptcy can be a difficult decision. No doubt you have weighed your options carefully before coming to this decision. We understand. Now, you may be wondering what you should do next and if anything should be avoided. So, here is a list of common bankruptcy mistakes to avoid: [...]
You may be wondering if filing for bankruptcy will prevent you from buying a home or a new vehicle in the future. What may surprise you is that filing for bankruptcy can increase your credit score. This will put you in a better position to make large purchases like a house or car. Does it [...]
Facing financial trouble can be difficult and stressful. This is even more difficult when you are facing foreclosure. However, while the thought of filing for bankruptcy may be scary, it actually gives you more protections than continuing to struggle or losing your home. Here is a list of pros to consider about filing for Chapter […]
New Rules are Here to Help You The Consumer Financial Protection Bureau (CFPB) has recently amended its rules under the Truth In Lending Act (TILA). The rules now require that mortgage companies and banks continue to provide monthly mortgage statements to debtors in Bankruptcy. Now, this is required, even when the mortgage is discharged. As […]
You may be wondering if filing for bankruptcy will prevent you from buying a home in the future. Would it surprise you to know that filing for bankruptcy can increase your credit score? It's true. Most people find themselves in a better position to make large purchases like a house after their bankruptcy. How Does It [...]
Some mortgage companies have been asking debtors to reaffirm their debt after filing a chapter 7 bankruptcy. What does this mean? Can you do this? Well, a reaffirmation agreement is a contract saying that you promise to repay a debt that would have been released in bankruptcy. So, if you reaffirm your mortgage, it means you […]
