Could I do a loan mod for a rental home?

Depending upon what the value of the rental property is, you should discuss with your Chapter 13 attorney, the possibility of a cram-down of the...

Selected as the best answer

Capital gain tax for a foreclosed second property

Although you should confirm this with your CPA or tax attorney, in most cases, additional mortgage debt taken on the property will increase your...

I live in Orange County CA. Is it possible to file Ch.13 after a discharged Ch.7 in order to strip down a second mortgage?

Yes it is possible to cramdown loans and/or strip liens in a Chapter 13 case immediately following a Chapter 7 discharge. This is commonly...

Lien strip

For the lien strip to work the value of your home must be less than what you owe on the first mortgage. How you determine the value can be...

If I file for Chapter 13 . Will I have to pay for all the 80,000 credit card bills I have?

This question is impossible to answer without doing a full case evaluation. In a Chapter 13, the Court is going to look at your disposable income...

Can I give up my house under chapter 13 if I just cannot afford it?

If all you want to protect is your cars, I wonder why you aren't looking at Chapter 7 as a better alternative? You can surrender your home and a...

Can you go chapter 13 if you dont have a job?

Chapter 13 is a plan of reorganization where you will be required to make monthly payments to the Chapter 13 Trustee to pay back a portion of your...

This sounds like the Credit Union has been violating the bankruptcy automatic stay by continuing to collect from you. However, more information is...

Can I file chapter 7 with my current husband? I filed in 2004 with my ex husband.

If you received a discharge in 2004, you are not eligible for another discharge until after 2011. This means that you and your current husband...

Need to file for BK but don't know which one we qualify for.

Most people are eligible for relief under one or more chapters of the bankruptcy code. In your case it sounds like you are looking at either a...