I agree with my colleagues. The Trustee takes the amount you believe the fair market value of the home is. The secured debt owed on the property is...

Keeping homes and filing for bankruptcy

Your relative may very well be able to keep his two townhomes and file Chapter 7 to eliminate his unsecured debt to avoid a creditor placing a lien...

Can I consolidate my debt without filing for bankruptcy and how much would it cost me,

If the creditor sued you and received a judgment against you and is using that judgment order to garnish your wages, a bankruptcy will stop that...

Whats the best option?

I agree with my colleagues that you cannot pick and choose. Every debt that is attached to your social security number will need to be included,...

Requested loan modification from Citibank.....just found out property will be auctioned next week. is this legal?

If this is your father's primary residence and not an investment property, then the lender is violating California's Homeowner's Bill of Rights law...

Are we in a position to declare Chapter 7 bankruptcy?

I agree with attorney Waddell. It seems like your boyfriend would be a good candidate to clear his debt before you get married. He can have a fresh...

How many times can a person file for bankruptcy?

Yes you Chapter 13 whether the mortgage lender got relief from stay will not prevent you from filing a Chapter 7 now assuming you did not complete...

After a ch 7 discharge is it better to do a deed of lieu or just stop paying and let the house go into foreclosure.

Having a foreclosure on your record could pose problems for you as many as 7 years after the foreclosure. If you can, try to do a short sale. This...

You sound like a good candidate for Chapter 7 to eliminate your debt since you currently do not have income coming in. Your biggest concerns is...

We did a loan modification in 2011 but still has the second loan with bank of America, we didn't pay this loan since 2009

Depending on whether there is equity in the two homes your husband owns, you may be able to file a Chapter 13 to stip the second mortgage or...