Legal Question in Bankruptcy in Florida

Bankruptcy due to 2nd mortgage forclosure?

My 2nd mortgage is going into forclosure. I am behind $15,000 since 1998. Primary mortage is FHA loan. I had a partial claim on my FHA of $10,000 lien in year 2000. If I file Bankruptcy (Chapter 7 or 13?) Will I be able to keep my home?? How can I avoid losing my home to a 2nd mortgage forclosure???

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Asked on 4/14/02, 3:21 pm

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Bankruptcy due to 2nd mortgage forclosure?

Through a chapter 13 plan you can obtain an extention of time to bring the mtg current. A ch 7 does seem to be inappropriate for you. Consult with competent counsel prior to filing.

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Answered on 4/15/02, 7:12 pm
Anthony Comparetto Comparetto Law Firm

Re: Bankruptcy due to 2nd mortgage forclosure?

Chapter 7 would not be wise at this time. You will need to either file a chapter 13 repayment plan or work out a forbearance plan with the second mortgage

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Answered on 4/14/02, 5:06 pm


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