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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37866
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I am in manufactured home.7 years into 20 year mortgage.I will

Resolved Question:

I am in manufactured home.7 years into 20 year mortgage.I will lose ltd this September,702.00/month.I plan to quit paying mortgage let house go back to lender.Is there a better way todo this?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 7 years ago.

The only thing that may be worth your doing is waiting a few more months to see what the new Treasury Department refinancing rules may be. They may permit you to refinance into a mortgage that you can afford. Also, Congress is attempting to pass legislation to permit bankruptcy court judges to be able to force loan modifications on lenders, so that could be worth waiting for, too.


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