Posted on: 02nd Sep, 2009 12:37 pm
Hello,
Ly I went through a divorce and had to file chpt. 7. I was living in my home when I was diagnosed with cancer, went on disability and lost my job.
I rented my home for a year and it covers the mortgage pymt. I was notified today that my house may be added to my bk since Im 3 months behind. For the last two months I have made payments but I still owe the three months.My court date is next wed. should I get an ext? How much time do I have? I need the year for the tenants...does anyone have any suggestions?
Please help!
Ly I went through a divorce and had to file chpt. 7. I was living in my home when I was diagnosed with cancer, went on disability and lost my job.
I rented my home for a year and it covers the mortgage pymt. I was notified today that my house may be added to my bk since Im 3 months behind. For the last two months I have made payments but I still owe the three months.My court date is next wed. should I get an ext? How much time do I have? I need the year for the tenants...does anyone have any suggestions?
Please help!
Hi Guest!
Welcome to forums!
You can speak to your attorney and check out if you can extend the date. It would be solely the bankruptcy court's discretion whether or not they would extend the date. You should inform the court about your problems and check out the judge's opinion in this issue.
Once the property is included in your bankruptcy filing, the trustee may sell it off to recover the dues. Or else, you can reaffirm the mortgage and start paying the mortgage dues once again. Once your reaffirm the mortgage, you would become personally liable for the mortgage payments. In that case, if you do not make the payments, the lender will foreclose the property. However, if you continue making regular payments, then you would be able to save the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can speak to your attorney and check out if you can extend the date. It would be solely the bankruptcy court's discretion whether or not they would extend the date. You should inform the court about your problems and check out the judge's opinion in this issue.
Once the property is included in your bankruptcy filing, the trustee may sell it off to recover the dues. Or else, you can reaffirm the mortgage and start paying the mortgage dues once again. Once your reaffirm the mortgage, you would become personally liable for the mortgage payments. In that case, if you do not make the payments, the lender will foreclose the property. However, if you continue making regular payments, then you would be able to save the property.
Feel free to ask if you've further queries.
Sussane