If you’re facing foreclosure and wondering, “Will I be able to keep my home if I file bankruptcy?”, there may be options for you. Filing for a Chapter 7 Bankruptcy can possibly delay your foreclosure for a few months. A Chapter 13 Bankruptcy filing may even help you save your home altogether.

Reaffirmation Agreement

In bankruptcy, a contract signed between the lender and the debtor.

• Reaffirms the personal liability for the debt.
• Must be entered into before the Discharge in Bankruptcy is filed.
• Must be approved by the court.

Pros of Reaffirmation Agreement

• Usually to lenders advantage because it keeps you binded to the debt.
• You have 60 days after signing the document to revoke.

Loan Modification

• Permanent change in your mortgage loan terms.
• Allows the loan to be reinstated under the new terms.
• New terms include a new mortgage you can now afford.

FDIC Sponsored Loan Modification Program

The Homeowner Affordability and Stability Plan

• Helps borrowers who cannot make their payments due to insufficient income.
• Provides options for borrowers who are up-to-date on their payments, but can’t refinance because of a major decrease in the value of their home.
• No fees for borrowers through

If you’ve filed for bankruptcy at some point, you know that it not only affects your finances, but equally does great damages to your credit score. And while it may seem like a daunting task to rebuild your life after bankruptcy – amid working on your credit rating, your finances and emotional wellbeing – there truly is life after all these. Rebuilding credit after bankruptcy is quite possible even eventually attaining a credit score of 700 or 750. How do you make this possible? This article gives you 5 ways to rebuild your credit after a bankruptcy that will undoubtedly help you.

Reviewing your credit report

Your journey to rebuilding credit begins when you know exactly where you stand with your credit and the far you have to go to get to the score you ultimately want. Mark dates to get copies of your credit report from major bureaus. When you know that a credit score above 750 is often considered excellent while one below 400 is considered very poor, you’ll know how drastically you need to restructure your finances to get your desired score.

Creating Realistic Budgets

After a bankruptcy, you’ll need to

Aurora loan services is one of the lenders who is approved to offer the Governments “Making Home Affordable” plan. This plan allows homeowners the chance to save their home from foreclosure, or save hundreds of dollars every month through home loan modification. Qualifying is easy, but here are some things you should know when getting a Aurora loan services mortgage modification:

– In order to help ensure Aurora loan service approves your application for a home loan modification, you should make sure all your paper work is in order, completely filled out, and accurate. This way your home loan modification application does not just look like the rest of the incomplete ones which need to be re done.

– Homeowners facing a “financial hardship” such as hospital bills, loss of job, reduced wages, or a whole list of other things which are unavoidable have a better chance of getting approved for a home loan modification from Aurora loan services. This is because a lot of the $75 billion in Government mortgage bailout money will be given to mortgage lenders who approve homeowners who are facing financial problems.

– The home which a homeowner wishes to

When individuals cannot afford to pay off large debts, it becomes necessary to use Bankruptcy Lawyer services. Financially misfortunate people should know that bankruptcy and bad debts is not the end of the world. The right bankruptcy attorneys are specially trained to assist those who have declared themselves unable to pay any of their ballooned debts.

1. Even though filing of bankruptcy will not always suit a debtor, it may still be valuable to get tips from a bankruptcy attorney. Creditors are in the business to recover owed money with the use of various methods. Sometimes they may use intimidating collection methods in the form of letters or phone calls that will never stop until every last cent has been paid. The process of declaring bankruptcy can protect people from threatening creditors.

2. The bankruptcy process is not simple. Apart from the long, boring paperwork, the bankruptcy process can become worse in court. A number of proceedings are necessary that will increase the usefulness of a bankruptcy lawyer.

3. Bankruptcy law can seem very confusing for people who do not understand the law or have never stepped foot in court. Those people should avoid representing

Bankruptcy is an option that can help relieve you of debt. You may be in a position where you can no longer pay back debt due to a change in your life such as divorce, job loss, medical costs and other reasons. Do not wait until the last minute to file; many times, people try to hang on and their financial situation becomes more difficult. Once you have decided that you can no longer meet your obligations, it is time to visit a bankruptcy attorney and discuss your options.

You are not required to hire a bankruptcy attorney, but it can be a time-consuming, confusing process, and it is best to have someone who is experienced and knowledgeable on your side. When you visit your lawyer, there are several things that you will discuss including your current situation, your creditors, whether filing Chapter 7, 11 or 13 best suits your situation, and more. Your attorney will spend time answering your questions, and there will be paperwork that needs to be filled out. Your first visit is usually for exploratory purposes, and after your bankruptcy attorney has all the facts time may be needed to evaluate for the

A Practical Guide to Protecting Your Promissory Note Investment

Writing a check to invest in a promissory note begins the investing process that will provide you with future income and possibly capital gains. After your check is cashed, numerous administrative functions are necessary, on an on-going basis, to protect your investment and maximize its profitability. The administrative functions are called “Loan Servicing”.

Unfortunately, the Loan Servicing function is little understood by many and neglected by most. This neglect causes a discount and devaluation of your investment. Let’s learn how to increase your promissory note investing success and protect the investment through intelligent Loan Servicing.

Definition of ‘Loan Servicing’
Promissory note loan servicing provides administrative services for the loan from the time the proceeds are dispersed until the loan is paid off. Loan Servicing includes: sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance, managing escrow and impound funds accounts, remitting funds to the note holder, and following up on payment delinquencies.

Promissory Note Loan Servicing Reports
Monthly and Annual Reports: gross income collected, real income collected, taxable income collected, and repayment of principal collected

When we meet to discuss your financial situation, I’ll take the time to get to know the details of your circumstances so that we can create a custom solution to your debt troubles. For some people, budget and spending revisions and negotiating with creditors can help them to avoid bankruptcy altogether. Others may need the immediate discharge of a Chapter 7, and still others will use a Chapter 13 to get their debt under control while protecting their property and assets. In order to maximize the benefits of bankruptcy, a Chapter 20 may also be used. This is when someone files a Chapter 7 followed by a Chapter 13. There are some guidelines surrounding to this option, and we’ll work together to make the right choice for you.

Exploring Your Options

I’ll walk you through the benefits and eligibility requirements of each chapter and will guide you as we make these important decisions. A Chapter 7 is usually resolved in just a few months and discharges most types of unsecured debts, regardless of how much you owe. If you have secured debts, such as a car or house payment, you’ll need to stay current on these

For most people, going through bankruptcy brings with it a mix of emotions. On the one hand, there can be a sense of disappointment at having to take such a drastic measure in order to get one’s financial life back on track. There can also be some guilt that comes from not being able to repay debtors, and even a sense of failure.

At the same time, bankruptcy can bring with it huge feeling of relief for finally being out from under all of that debt. In particular, this feeling of relief can be the strongest when you are discharged from owing money to most or all of your creditors.

Defining a Bankruptcy Discharge

A bankruptcy discharge is simply a provision within many bankruptcy arrangements whereby you, the borrower or debtor, are released from any further personal liability for certain types of debts. After your discharge, you are no longer required to repay the qualifying debts.

Furthermore, this is a permanent order, meaning that creditors and collection agencies to which the discharge applies are no longer able to seek repayment from you – including calling you, writing you or seeking legal action in order

These days the cost of living is so unavoidably high that many people are actually finding it hard to survive an entire month without falling into debt. But this is just half of the problem when it comes to the experiences of people with families to feed and, of course, to shelter.

A mortgage loan makes life so much easier than it would be without one, because if there was no way of getting a loan, how else would you be able to afford that dream house you have been fantasizing about for your whole life? A vast number of mortgages are turned down for various reasons, thereby prompting borrowers to resort to mortgage loan services which will help them in their pursuit of a loan.

Before actually processing your mortgage application form, make sure you work with a company specializing in mortgage loan services. A mortgage loan service company is responsible for facilitating an easy and hassle free loan application. What makes these companies so special is the fact that they know what it takes to get an application approved.

When working with such companies you should ensure that you give them all the

If you’re thinking about filing, you should hire a Chapter 7 bankruptcy lawyer to help you out. Things get very tricky when you’re doing it all by yourself, and you want it to be as quick and painless as possible. A qualified legal professional can help you get through it.

The most common type of filing is Chapter 7 bankruptcy. Lawyer services are often required even though it is the simplest types. It is available to individual people, married couples and businesses. For a business, it is basically the end of the road. One feature of this type is that it takes all of your non-exempt assets, sells them off and divides the money between your creditors. For a business, this means selling everything it has and closing up show. Since most things that you own are exempt, individuals can usually get through it unscathed.

Why Hire A Chapter 7 Bankruptcy Lawyer?

One of the common misconceptions when it comes to the Chapter 7 bankruptcy lawyer is that it’s their job to basically fill out the forms for you. However, this is not like applying for a credit card. These forms are extremely complicated and