Legal Question in Real Estate Law in Texas

a friend has a home in fort worth, tx. chase mortgage has the mortgage and for over a year she has been telling them that she need them to work with her on re-fting her mortgage ,she lost her job and has been working here and ther not perrmanet .chase will not even return her calls she is a single black women that has alot of eqity in the house even in this not great real estate market she owes $103000 and the house is worth at least 140000 so I beleive that the bank insteade of working with her at all see;s dollar signs insted of loss signs she is 4 mos behind in her payments and they have told her they will foreclose and she needs to pay their attornies I have told her no she needs legal advice and has no money to pay for it WHAT TO DO????


Asked on 12/26/10, 10:44 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

The bottom line is: if you can't pay for something, you can't keep it. That's life.

The mortgage holder is not required to refinance or to "work with her."

She could file bankruptcy, but it would only stall things; eventually, the rule of law is, "If you can't pay for something, you don't get to keep it."

She needs to find another place to live.

Read more
Answered on 1/02/11, 1:49 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas