Getting credit again and qualifying for a home mortgage after bankruptcy take time, but not as long as you might think. How does filing bankruptcy affect you getting credit, your credit score, your ability to get a home mortgage? CNNmoney.com recently published an article that explains very well how filing bankruptcy and suffering a mortgage foreclosure may affect your credit score [click…Read more
Bankruptcy and Save the Dream Ohio: For Homeowners Facing Foreclosure
If you are an Ohio homeowner considering filing bankruptcy, you may want to consider a new program, Save the Dream Ohio, available if you are also facing foreclosure of your home. Whether you are considering Chapter 7 or Chapter 13, you will need to know what each chapter can do, the differences between the two chapters, and, The…Read more
Bankruptcy and HAMP Program – Qualifying for Mortgage Loan Modification
The US Treasury Department recently changed its policy for HAMP (Home Affordable Modification Program) with respect to borrowers in bankruptcy. Previously a borrower that was in an active bankruptcy case (Chapter 7 or Chapter 13) was eligible for HAMP “at the servicer’s discretion.” At the urging of the National Association of Consumer Bankruptcy Attorneys and others,…Read more
Are Short Sales Better Than Mortgage Foreclosure, Then Bankruptcy?
If you can’t make your mortgage payments, and can’t decide whether to try a short sale or allow the mortgage company to foreclose, a new development may help you decide on a short sale rather than foreclosure. Either way, you should consider what filing bankruptcy can do to turn your financial difficulties around. According to…Read more