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Can I Modify My Mortgage While In Chapter 13 Bankruptcy? Call (703) 967-3315 or visit https://fishersandlerlaw.com and ask us about our 👉$0 Down Bankruptcy Program today.👈
Fisher-Sandler has been helping people get out of debt since 1999. We’ve helped thousands of clients file for bankruptcy and we can help you too! Our experienced attorneys have successfully handled thousands of chapter 7 and chapter 13 cases in Northern Virginia.
If you are tired of being harassed by creditors, or if your financial situation is causing stress on your family, then it may be time to consider filing bankruptcy under the U.S. Bankruptcy Code. You can stop harassing calls from creditors today! Get a fresh start with zero down payment for chapter 7 bankruptcy filing at Fisher-Sandler!
Can I Modify My Mortgage While In Chapter 13?
Filing a Chapter 13 bankruptcy and modifying your mortgage are two different paths to the same end—keeping your house. But they can also work well together. A Chapter 13 bankruptcy can protect your investment by helping you bring a past due mortgage current. Additionally, it can stop a foreclosure and provide you with the time you need to work out a modification with your lender.
Even though you're paying mortgage arrearages through a Chapter 13 plan, you can still work with your lender to modify your mortgage. It's not at all unusual for a borrower to file a Chapter 13 case to stop a foreclosure and then apply to the mortgage company to modify the terms of the loan.
When you're applying for a modification, you're asking the lender to change the terms of the loan. Your interest rate could be adjusted, and therefore the monthly payment reduced, or your missed payments could be added to the end of your mortgage, thereby increasing its length. When the modification goes into effect, your mortgage will be current.
You'll have to present your modification to the bankruptcy judge for approval. Most judges will approve the plan if the new terms are reasonable. Next, you'll propose a new Chapter 13 payment plan that removes the mortgage arrearages and any other debt included in the new mortgage, like past due property taxes. You'll continue making your new mortgage payment and your new Chapter 13 plan payment until you reach the end of your plan term, after which you will enjoy the benefits of your Chapter 13 discharge.
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Fisher-Sandler, LLC
12801 Darby Brook Ct #201
Woodbridge, VA 22192
(703) 967-3315
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Fisher–Sandler, LLC
3977 Chain Bridge Rd #2
Fairfax, VA 22030
(703) 691-1642
RMWV+PG Fairfax, Virginia
https://fishersandlerlaw.com
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Fisher-Sandler, LLC
8002 Discovery Drive, Ste. 422
Richmond,VA 23229
(804) 664-3643
JF34+P3 Richmond, Virginia
https://fishersandlerlaw.com/bankruptcy-attorney-richmond-va
https://richmondbankruptcyattorney.business.site
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Fisher-Sandler, LLC - Fredericksburg, VA
1930 William Street
Fredericksburg, VA 22401
(540) 274-5566
7GW5+33 Fredericksburg, Virginia
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Prevent Bankruptcy! - How to Avoid Bankruptcy and Negotiate a Debt Settlement
Are you finding a way to prevent bankruptcy? Then, you have come to the correct place.
What is Lienstripping and How Can it Help Make My Mortgage Payment More Affordable?Lienstripping is a process in bankruptcy whereby junior lienholders are stripped, or removed from being a secured debt against the property. It applies only in Chapter 13 bankruptcy cases and only to the debtor's primary residence. Lienstripping does not apply to rental properties or second homes.
What is the Difference Between Chapter 7 and Chapter 13 and What is the Timeline For Each?The difference between these two chapters of the Bankruptcy Code and their time lines are as follows: Chapter 7: Also called a "straight bankruptcy", chapter 7 involves the liquidation of non-exempt assets for the benefit of creditors. Most chapter 7 cases are considered "no asset" cases meaning there will be no liquidation or distribution of assets to unsecured creditors.
Chapter 13 Bankruptcy RulesThe chapter 13 bankruptcy is also known as wage earner's plan, as it enables to set up terms for repaying out of the debtor's net income. The personal bankruptcy attorneys or the debtor approaches the court for paying payments in installments on the amounts due with creditors who propose a repayment plan.
Need a Bankruptcy Evaluation? Here's How to Get One For Free!There is no doubt that we are in a recession. Companies are closing, banks are going under, and families living paycheck to paycheck find themselves with no paycheck at all.
Considering Filing For Bankruptcy? Facts All Consumer Must Know When Filing For BankruptcyBankruptcy is one of the most embarrassing situations when you face the jury, and tell them that you have lost everything due to mismanagement and bad planning. Although debts are not good either small or big, a man should struggle to get out of all types of debts. In previous years, the only thing people did was filing for bankruptcy. People did not have any option except bankruptcy, and so they choose it at that time.
Bankruptcy BasicsThe word bankruptcy has several negative connotations attached to it. Many people are afraid of the word because they have the idea that it is associated with losing everything they have worked so hard to gain.
What is Involved in Credit Counseling For Chapter 13 Bankruptcy?Credit counseling is just one of the many eligibility requirements you must meet in order to file Missouri or Illinois Chapter 13 bankruptcy. It involves learning more about bankruptcy and your other alternatives. But what happens if you don't take it?
What Are the Eligibility Requirements in the Chapter 13 Rules?While there are many benefits to filing Chapter 13 bankruptcy in Missouri and Illinois, you must play the game to get them. To play the game, you must follow the Chapter 13 rules. Do you meet the eligibility requirements to file?
Will I Lose My Tax Refund If I'm Filing Bankruptcy?Has keeping your tax refund been a deciding factor in whether or not you want to file Missouri or Illinois bankruptcy? Here are a few facts that you may need to know before you forgo protection from foreclosure, credit card debt help, and relief from your creditors.
What Does the US Fidelis Bankruptcy Mean For Workers?The US Fidelis bankruptcy really hit the workforce of Wentzville, Missouri hard. Fortunately, there is a way that the workers can bounce back and get out of the debt they may have accumulated in between jobs.
How Long Must You Wait to Re-File a Chapter 7?Re-filing a Missouri or Illinois Chapter 7 is a position that I hope few are in, but if it is necessary, it is possible after a certain amount of time. There are, however, a few tips on making your bankruptcy experience even better the second time around.
A New Way to Look at Bankruptcy and Future EmploymentFinding and getting a job after bankruptcy is probably the top priority on your list after you've gotten your fresh start. But will it be hard? Are there specific tips that can help you find a better job, faster?
Is Bankruptcy Really Causing Couples to Divorce?Is bankruptcy causing divorce? Perhaps, it isn't bankruptcy that is the cause of marital problems but debt itself. You may even be surprised to learn that bankruptcy can have a positive effect on your marriage.
How Can You Find the Best Deal on Bankruptcy?The best deal on bankruptcy doesn't necessarily have anything to do with the price since bankruptcy fees don't vary much between attorneys. There are, however, some other points you'll want to look for to make sure you are getting your money's worth.
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