anyone know anything about foreclosure 1 1/2 years after chapter13?
April 30th, 2008
pat asked:
my ARM adjusted and the bank is denying the loan modification request. Anything I need to know? If I choose foreclosure, what do I need to know. Is is quicker than normal foreclosure because of the 13?
my ARM adjusted and the bank is denying the loan modification request. Anything I need to know? If I choose foreclosure, what do I need to know. Is is quicker than normal foreclosure because of the 13?
NO it will be the same rate, however once it starts, you wont have chapter 13 protection to stop it. Basically when the paperwork is filed and the court auction date assigned, that is it. What ***** in this condition is that even if you find a buyer, the bank may not honor the sale once they have a court date assigned
The best thing you can do though, is try to sell it to a place like home vestors, before it is forclosed on. IT will help your credit in the future.