Legal Question in Bankruptcy in Utah

mordgage payment problem

Hi,

I'm an owner of a townhouse in Midway, UT for the last 4 years. I never was late to pay my mortgage nor I was late with my payments. For the last 2 years I'm a full time student of Federal Loan Program. I don't have other income then from rental of my property. Due to a very low market I can't find new renters nor sell my property. Please let me know what I have to do in order to keep my property and pay as mininmum as I can. I'll be out of school next Aug. I'm in Oriental Medicine problem. I'll be able to keep paying my mortgage after finishing school. I want to avoid bankruptcy. Let me know what steps I have to take to save my credit and property. Thank you for your help and time.ZD


Asked on 8/08/03, 12:06 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: mordgage payment problem

In order to protect your credit you will have to continue making payments. There is no excuse for not making payments because you are in school. If you cannot pay, then consider selling the property.

Read more
Answered on 8/08/03, 10:58 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Utah