Avoiding Foreclosure is a possibility, even far into loan default. A Loan Modification is a way to for homeowners to avoid foreclosure and keep their homes, and a lender’s response to the buyer’s inability to pay their home loan. There are various Loan Modification options available: Home Affordable Modification Program Homeowner Affordability and Stability Plan
Chapter 11 reorganization, also called liquidation bankruptcy, is filed by businesses like corporations and partnerships or individuals who owe more than approximately $1.1 million dollars of debt. What’s the difference between Chapter 7 and Chapter 11 Bankruptcy? Chapter 11 reorganization helps keep businesses afloat while they reorganize their debts and come up with a repayment
What is a Chapter 13 Reorganization? Chapter 13 Bankruptcy is a type of personal bankruptcy that allows individuals suffering from debt to seek relief from the court. Chapter 13 will allow you to retain your assets by organizing a repayment plan based on your needs, as long as the debt is paid in full in
Chapter 13 bankruptcy is available to individuals and sole proprietors of businesses. It takes one’s salary and expenses into consideration to create a solid 3- to 5-year plan of repayment and reorganization to fit your needs. Once your repayment plan is complete, any remaining debt (that has the capability of being discharged) will be discharged.
Are you looking into getting a Home Mortgage Loan Modification? How does a borrower qualify a home mortgage loan modification? What do you need to know about getting a home mortgage loan modification? For one thing, there’s the Home Affordable Modification Program, or Hamp. To qualify for HAMP, here’s some of the criteria: Have enough