Legal Question in Bankruptcy in Minnesota

Mortgage forclosure

We have a pay option arm, we have been paying the minimu for 2 years not knowing that when we did we were going negative. Our percentage is 9.5 and we can not pay the principle and interest our credit scores are bad, so no one will refinance us. We will lose our home if we are forced to pay the 9.5 % principal and interest. We are currently current on all, however, we can not pay our bills and the high mortgage.

Should we file bankruptcy. No one will refinance us, as we are now 100percent on what we owe versas what it is worth.


Asked on 8/07/07, 2:04 pm

1 Answer from Attorneys
Dennis Felix Felix Law Office, P. A.

Re: Mortgage forclosure

The decision to file bankrutcy depends on more than you have revealed. Speak to a bankruptcy attorney. Dennis.

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Answered on 8/07/07, 5:46 pm


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