Posted on: 21st Mar, 2009 09:41 am
My son and wife are filing for Bankruptcy 13. He is up to date with house payments. Can he get a better mortgage rate on his mortgage before he files?
If you are able to make the payments, then why is he filing? Are all of the other debts the issue?
welcome mijo,
i agree with eric. if your son is current on his mortgage payments, then there is no need to file chapter 13 bankruptcy. however, yes, he can get better rates on his mortgage before filing bankruptcy.
i agree with eric. if your son is current on his mortgage payments, then there is no need to file chapter 13 bankruptcy. however, yes, he can get better rates on his mortgage before filing bankruptcy.
Filing bankruptcy is the last stage. You have more options in hand before that. Mortgage loan modification and hardship filing can also reduce your total repayment,hence serves to be helping hand to repay the debts. Also, there is a package announced by goverment for such near to bankruptcy cases. Also mortgage refinancing help if you are able to repay more amount.
by all means, if your son wishes to obtain a better rate on his mortgage, he'd better do it before he moves forward with the chapter 13 filing.
