Legal Question in Bankruptcy in California

I am trying to find out if I can file ch 13 bk so i can keep my home. i have an fha loan and have been in the process of a modificarion with my lener for over 16 mths. a complete nightmare. they give me the run around,different answers to same questions depending with whom i have spoken to,lost most of all paperwork faxed etc. they have nothing to lose if the sell my home. my house has been in foreclosure since jan .im afraid ill reiceve a sale date before a modification answer. i owe morgage arrears of over 30,000 now. i have the money to pay my morgage now but not the arrears.


Asked on 8/14/12, 12:46 pm

1 Answer from Attorneys
Charles Andersen Charles Andersen, Atty

Absolute Law Chapter 13 gives you a chance to resume your regular monthly mortgage payments and to start paying back the arears with interest (usually 7%) over the 3 to five year of the plan.

However, you may have been paying on other debts such as credit card debt, car debt and so on that can be reduced or eliminated in the chapter 13 making restructuring feasible.

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Answered on 8/14/12, 12:50 pm


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