Re: Considering Foreclosure due to divorce
Posted by steele in minnesota on August 21, 2008 at 06:31:18:
In Reply to: Re: Considering Foreclosure due to divorce
Posted by ppp on August 20, 2008 at 13:07:50:
May want to qualify that a bit. Maybe to read, "at the moment you are protected". What many people don't realize is that Chapter 7 bankruptcy protects you only as long as you follow the agreement. If you break it, things can go right back to where they were without skipping a beat.
And are these secondary lenders filing judgements? Yes, many of them are starting to do so, not simply write things off. And they usually have a fair amount of time to do so. Already we are seeing cases of someone thinking that they were off the hook and two years later when they are back on their feet, bamm.
I would be talking to a real estate attorney highly versed in your state's foreclosure law. Bankruptcy is not the be all, end all the bankruptcy attorneys claim.
But that is the service that they are selling.
Steele
Follow Ups:
- Re: Considering Foreclosure due to divorce - ppp 11:04:53 08/21/08
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- Re: Considering Foreclosure due to divorce - steele in minnesota 12:49:24 08/21/08
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- Re: Considering Foreclosure due to divorce - NJD 12:43:08 08/21/08
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