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Asker
Posted over 1 year ago.

13 or 7...i heard 7 was better...i talked to the collection lawyer...they told me to go to the board....board wants me to come up with a big amount upfront...they didnt tell me how much...i have no job ..on unemployement for now...so i dont have what thr asking for??

Carl H Starrett II
Carl H Starrett II, Chapter 7 Bankruptcy Attorney - El Cajon, CA
Posted over 1 year ago.

Chapter 7 will only temporarily stop a foreclosure. The HOA will still have its lien and could foreclose for nonpayment.

With Chapter 13, you have the change to get a court ordered plan that allows you to get caught up over a period of up to 5 years.

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Asker
Posted over 1 year ago.

thnx

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Asker
Posted over 1 year ago.

btw....how does the hoa foreclose if my mortgage is "first"

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Asker
Posted over 1 year ago.

and what would be the cost for chpter 13

Carl H Starrett II
Carl H Starrett II, Chapter 7 Bankruptcy Attorney - El Cajon, CA
Posted over 1 year ago.

The HOA is like a second mortgage in a sense. If they foreclosed, the HOA would own the property and the first mortgage would still be in place. if they didn't pay, then the bank would foreclose. Cost for a Chapter 13 is often decided either by the local courts or by whatever the attorney and client negotiate together.