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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37819
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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So glad we discovered this site - Here is part 2 of our Schedule

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So glad we discovered this site - Here is part 2 of our Schedule Question - We have an upside mortgage and vehicle. We are on Schedule D. Are we correct in putting the following information in the columns: Date Claim & Value = original mortgage amount we bought house for / Amount of Claim = Total we owe the lender including late fees / Unsecured Portion = Difference between what we claimed the market value and what we owe the lender? Example: Market value is 123k on the home. We bought the home for $144k. We in total owe the lender 197k (We were in loan modification and they took two years). So the value we put into unsecured portion was 73k, the difference between market and monies owed? I hope I explained that ok... Thank you.
$197 = Amount of Claim
$123 = Value of Property Subject to Lien
$74 = Unsecured Portion.

Hope this helps.
socrateaser and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 3 years ago.

My wife and I could hug you for all your help!

Grab your computer and hug it -- I will hug mine, too.

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