If I file for Ch. 13 bankruptcy and surrender a rental property, will the mortgage company continue to seek a deficiency?
Colin's answer
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Answered on February 05, 2014
If you have to file a 13, and you have made up your mind that surrendering it is best for you, then the amount owed is paid the same way as every...
Archived
Can I get rid of a second Lein mortgage
Colin's answer
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Answered on January 28, 2014
You can only strip a second mortgage on a primary residence in a Chapter 13 (not Chapter 7), and only if the value if the residence is less than is...
Archived
Can my dissabilty be garnished . OR can they take my 401k due to money owed after foreclosure. Can I go to jail?
Colin's answer
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Answered on January 25, 2014
They can't garnish either form of income, and you can't go to jail for failing to pay a debt.
Archived
Mortgage was included in Ch. 7, 5 years ago & didn't reaffirm. Can I get another home loan?
Colin's answer
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Answered on January 16, 2014
I agree with the previous answers, and would add that, until the house is out of your name, it is a good idea to maintain insurance on it.
Archived
Do I have to file bankruptcy? What are my options?
Colin's answer
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Answered on January 13, 2014
Bankruptcy would protect you from losing income/assets. But, SSI-D is not a form of income that can be garnished, and you don't have any assets. ...
Archived
Do I have to pay for a second mortgage that my husband (now ex) forged my name on?
Colin's answer
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Answered on January 07, 2014
There are a lot of factual issues to sort out with this. You need to talk to an attorney about it. One issue that immediately jumps out at me, is...
Archived
What are the legalities of walking away from my Michigan mortgage and home equity loan. Can they take away my 401k.
Colin's answer
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Answered on January 07, 2014
You will be responsible for the unpaid balance, unless you file bankruptcy. They can't take your 401k.
Archived
Court is saying I missed a payment for probation costs
Colin's answer
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Answered on December 27, 2013
What is your question?
Archived
In Mich am I reliable for the balance after foreclosure
Colin's answer
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Answered on October 30, 2013
You would be liable for any deficiency (i.e. the difference between the amount owed and the value of the house). It would be a good idea to speak...
Archived
Can a judgement on a lawsuit be adjusted after a ruling is made?
Colin's answer
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Answered on October 24, 2013
You can file a motion to set aside the default judgment, but you need to show that there is good cause, and a meritorious defense to the lawsuit. ...
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