How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Law Girl Your Own Question

Law Girl
Law Girl, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4606
Experience:  I am an attorney.
635143
Type Your Bankruptcy Law Question Here...
Law Girl is online now
A new question is answered every 9 seconds

i wanted to find out if the government bail out would help someone who is already in

Resolved Question:

I've had trouble making my house payments due to more financial dilemna during my BR. Will a mortgage co give a person such as us help like putting us on a much lower interest or put my behind payments at the end of my loan or make my loan a 40 year instead of the original 30 year. loan is 5.5 years old and the house value has dropped due to the economy but it's the only home we have and we don't want to lose it. We're in the real estate industry and of course you probably know how bad we've been impacted by all of this. When my husband talked to some at the mort co the woman said he needed to get the house out of the BR first then talk to them about making any of those ideas work. We're scared to do that. What do you think??
Submitted: 5 years ago.
Category: Bankruptcy Law
Customer: replied 5 years ago.

Texas


Already Tried:
Nothing except call the mort co that one time. Our attorney is impossible to reach and his paralegal never calls us back so we don't know where to turn for answers. Someone told my husband there's a website we can go to to try and get help from the gov bail out program but we can't figure out what website that is. Do you know?
Expert:  Law Girl replied 5 years ago.

Thank you for your question.

 

Some lenders have the option to modify your loan. In this instance, the lender reviews the terms of your loan and tries to work something out with you with regard to modifying your loan to terms that you are more able to handle. However, this is done at the lender's discretion. It may be hard to find out your options while the property is in bankruptcy. However, once you pull it out of bankruptcy, you have no guarantee that modifying your loan will be possible.

 

There are many companies that will offer you assistance in trying to get your loan modified. However, many of them charge a fee.

 

Here is an interesting article on modifying your own loan:

http://www.ehow.com/how_4551527_modify-mortgage-loan-modification-free.html

 

Please let me know if you have any other questions, or require clarification. Otherwise, please hit "ACCEPT", so I may receive credit for my efforts.

 

Good Luck!

Law Girl, Attorney
Category: Bankruptcy Law
Satisfied Customers: 4606
Experience: I am an attorney.
Law Girl and other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.