Legal Question in Credit and Debt Law in Indiana

We are about to lose our mortgage back to the bank. Things was looking good 5 years ago. But both me and my wife have lost our jobs, We had to take lower paying jobs to get by. The mortgage payment is to much for the income we currently make. We asked the bank to lower the payment but it is still to much. The Question is if I look for another loan before the forecloser is underway is this unethical. I don't know if anyone will loan me any money to purchase a cheaper home. What are the guidelines for mortgage woes


Asked on 2/03/11, 2:31 pm

1 Answer from Attorneys
Gregory Coleman Coleman Law Office

There are other options. Do you only have the one mortgage? You can do a modification, or by filing a chapter 13 you can pay the arrearage over a period of time. Call our office if you would like to discuss your options.

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Answered on 2/15/11, 8:26 pm


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