Re: Hardship assistance or Chapter 13 to stop foreclosure.
Posted by Jake on February 24, 2005 at 15:17:45:
In Reply to: Hardship assistance or Chapter 13 to stop foreclosure. posted by Stevie on February 24, 2005 at 11:36:04:
: Hi. We wanted to stop our home from foreclosure. We are 2 months behind on our mortgage. We were offered a repayment plan thru hardship assistance. The payments are $200.00 more each month now for 9 months. That seems high. Would filing a chapter 13 bankruptcy be just the same, or would the payments be lower or higher? Any advice would help. Thanks.
Bankruptcy should be cheaper as the interest is not included. Bankruptcy is undergoing some changes and if it passes it will be impossible to pay off a house in bankruptcy because they are going to include the credit cards in the bankruptcy according to some lawyers. This all depends on what you owe and how much you make. That is for the judge to decide. I had a man in bankruptcy in our state to tell me that he did not have to pay interest in which is greater the first several years than the principal. Be advised to check with a good bankruptcy attorney in your area.
