Legal Question in Bankruptcy in Minnesota

Chapter 13 dismissed, and would like to SAVE family home

Filed Chapter 13 in start of 2002 to help reorganize finances and prevent foreclosure 99% of it was Mortgage arrears a total of 19K but we were still over our head and could not keep up, the Chap 13 has been dismissed and we wonder what will happen now (are attny was inexperienced and is not very good plus we are embarrased to call another) we are feverishly looking for a lender to re-finance, not having much luck with poor credit history.

What can we expect next? Does the Mtg. co have to go through all the 1st time proper notification proceedings again? Can we file again? What is the longest length that a 13 can be repaid - to lower our payments? Do you have any referrals for refinancing- we don't want any cash out just to refinance? Any other thoughts or ideas will be much appreciated, S Larsky


Asked on 8/13/02, 7:57 am

2 Answers from Attorneys
Jeffrey Bursell Hoglund & Chwialkowski, PLLC

Re: Chapter 13 dismissed, and would like to SAVE family home

There are a couple routes you can go. First, you can look at refiling a Chapter 13 to get current with your mortgage. $19K is a large amount to be behind so a Chapter 13 maybe difficult but not impossible. Second, you can look at refinancing. A lender may refinance your mortgage if you have enough income and equity in the home.

My office would be happy to look at your situation and talk about your options with filing another Chapter 13 or referring you to a possible mortgage lender. You can call our office at 651-628-9929 to set up a free consultation with one of our experienced bankruptcy attorneys. I look forward to hearing from you.

Jeff Bursell

Read more
Answered on 8/13/02, 9:15 am
Andrew Nichols Law Office of Andrew B. Nichols

Re: Chapter 13 dismissed, and would like to SAVE family home

The mortgage company has to send notice again to begin the foreclosure process. You might want to give them a call and see if they have any type of workout program. Since, you have filed once they may take you seriously when it comes to talking about options. If they will not work with you reasonably then you should strongly consider refiling. Your plan payments can extend to as much as 60 months to make your payments feasible. Please feel free to call me to discuss your particular situation in more detail. ph. (612) 677-0161 or (800) 303-0720

Read more
Answered on 8/13/02, 10:15 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Minnesota