Comments on: Can this happen in bankruptcy?

Question: Can this happen in bankruptcy?

swiffa — Sun, 07 Jan 2007 22:24:28 -0800

If 2nd Mortgage gets discharged in bankruptcy, can payment still be made to keep home?

Asking for brother in law, and I know very little about these things. Can one can keep a home under these circumstances? I accept all legal disclaimers on the answers and of course they will consult a lawyer if this moves forward, just needed a general idea of this particular possibility.

By: brain cloud

brain cloud — Sun, 07 Jan 2007 23:14:47 -0800

Location?

By: swiffa

swiffa — Mon, 08 Jan 2007 05:54:24 -0800

Massachusetts is the location.

By: megancita

megancita — Mon, 08 Jan 2007 07:25:02 -0800

Was the bankruptcy lifted? In Texas, if all the delinquent payments covered under the bankruptcy are removed from the Chapter 13 plan, you still can work directly with the mortgage company to set up a payment plan (commonly called loss mitigation) in order to keep the home.

By: swiffa

swiffa — Mon, 08 Jan 2007 11:11:42 -0800

Bankruptcy has yet to be filed. One of the factors they are considering is whether they would lose the home if they include the 2nd mortgage in the bankruptcy, yet still make payments.