Had a different question last week, from someone who did not reaffirm her mortgage in her Chapter 7 case, kept current on the payments, but wanted to pay off the balance for less than what was owed on the mortgage balance. REAFFIRMATION Just to review, reaffirmation is the process for you to obligate yourself…
Think life in Detroit is awful? Where else can you grab a piece of the American Dream for your monthly paycheck? Not everything in Detroit is bad. Kids play here. They still make some fine automobiles in these parts. It’s not all a scene out of 8 Mile, after all. But Detroit real estate prices…
No, it does not mean you have no property, that you lost everything by filing Chapter 7. Actually, it means that the trustee found no assets to be liquidated for the benefit of creditors. Which is a good thing, you keep everything you had before you filed. Subject to paying any liens on the property,…
I have selected my five worst insurance bets. What are yours? 1. Credit Life You are already in the hole, you owe money, and they tell you, hey, you want your spouse and kids saddled with this debt? Oh no, me? I am a nice guy, I don’t want to do that. Most likely, check…
No mas! MERS is folding up its tent as far as foreclosing in its own name, or filing pleadings in bankruptcy court in its own name, as it told is clients they have to get an assignment from MERS, and then file stuff in their own name. No more MERS foreclosures in Michigan. Our Michigan…
This is the conclusion of a two part series, part one on bankruptcy mortgage options can be found here. Now, you cannot force the mortgage company to foreclose, or take your house back. They might agree to a short sale, but, as with a modification, you cannot force it on them. They might accept a…
