THE NEW BANKRUPTCY LAW will prohibit some filers with higher incomes from using Chapter 7, who will instead have to repay at least some of their debt under Chapter 13.. UNDER THE OLD RULES, most people could choose the type of bankruptcy that seemed best for them (the majority would choose CHAPTER 7 over CHAPTER 13.)
New Bankruptcy Rules to Take Effect December 1, 2017 By Christopher L. Hawkins on May 4, 2017 Posted in Bankruptcy After several years of drafting, debate, compromise and fine tuning, it appears that major changes to the administration of consumer bankruptcy cases are imminent.
How to Save Your Home from Foreclosure: Loan Modification vs. Chapter 13 Bankruptcy Posted on August 8, 2016 at 12:00pm by The Sader Law Firm If you have fallen behind on your mortgage and are facing the prospect of foreclosure, this blog can help you decide on strategies to save your home.
The Five Most Popular, Most Expensive Home Improvement Projects Mortgage Masters Group With sellers always aiming to improve the value of their property, Tepilo looks at the most popular type of home improvements in 2017. Home improvements play a key role in increasing the value of a property – so homeowners, particularly those who are looking to sell now or in the near future, will be keen to know which renovations are the most popular.
The group also deferred recommending modifications in Chapter 11. U.S. Bankruptcy Judge Kevin Gross in Delaware is to rule on the extension request at a Feb. 9 hearing. The new plan-filing deadline.
A loan modification does not re-establish liability on a loan that is (or was) discharged in bankruptcy. The modification changes the terms of the loan, but a new loan is not being created, and the debtor is not agreeing to once again take on personal liability for the loan. The only instance where personal liability on a modified loan survives a bankruptcy is if it was reaffirmed during the bankruptcy. Contrast this with a post-bankruptcy mortgage refinance, where (1) an entirely new loan.
More Accused Robo Signers Net News With the new season rapidly approaching – the Senators and Maple Leafs will play the first game that matters oct. 2 in Toronto – Sporting News takes another look at. on a play in which the puck hit.
Impact of post-bankruptcy loan modification Since the bankruptcy discharge eliminated the borrowers "obligations" under the Note, there is no obligation left to modify. If, however, the borrower and lender enter a Modification Agreement, the terms would likely express either a reaffirmation of the debt or, alternatively, a new promise to pay.
Can You Apply for a Loan Modification After Bankruptcy? While personal bankruptcy is a powerful tool that can relieve tremendous financial pressure, it is not without its drawbacks. Regardless, it is often the best available solution for folks who can’t work their way out of debt by other means.