Foreclosure is the way the mortgage company takes your house if you do not pay them. Mortgage just means debt secured by real estate. That is, you pledged your house as collateral for a loan. There are other names, used for marketing purposes, like home equity loan, equity line, but the name has no legal…
Monthly Archives: October 2009
How Does Chapter 11 Work For A Small Business?
You may run a small business, that is, or is not, incorporated. If it is a corporation, the corporation has to file for Chapter 11 to get bankruptcy relief. But, you do not have to be a corporation to file for Chapter 11. You may run a store, own and rent a bunch of houses,…
Top Ten List Of Things To Do When You Get A Foreclosure Notice
TOP TEN THINGS TO DO WHEN YOU GET A FORECLOSURE NOTICE: 1. Keep the foreclosure notice! 2. Get all the papers with your mortgage, payments letters, everything, and put it in a file or envelope. 3. Write to the address in the notice requesting a modification. Keep a copy of the letter. (Do this even…
