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 Pro Your Own Question
Law Pro
Law Pro, Attorney
Category: Legal
Satisfied Customers: 24869
Experience:  20 years legal practitioner: real estate, collections, estate, civil, business, and criminal law
Type Your Legal Question Here...
Law Pro is online now
A new question is answered every 9 seconds

If I am in Chapter 13 can I get a mortgage forebearance

Resolved Question:

If I am in Chapter 13 can I get a mortgage forebearance
Submitted: 8 years ago.
Category: Legal
Expert:  Law Pro replied 8 years ago.

Absolutely - A Forbearance Plan - This process involves the reduction or suspension of payments for a period of time followed by a period of time during which the deferred payments are made up, similar to the repayment plan.


Repayment Plan - This process involves making up the amount past due over a period of months by paying a full payment plus a partial payment on the past due balance each month. You will be required to give your lender a cast contribution equivalent to 40-50% of your total arrears (total of late payments, bank fees and attorneys fees). Coming up with such a lump sum is quite difficult for homeowners who just faced a hardship. That is when working with Foreclosure Solutions USA can be very beneficial. We are able to give you some time to come up with some money to offer your lender.


Basically you want to establish a workout agreement with your lender - there are other "loss mitigation" options to consider - but you'll have to make the presentation to the lender and have them accept.

Customer: replied 8 years ago.

Do the courts have to do anything to allow me to talk to the lender for a Forebearance plan since I am in chapter 13. Do I need to inform the Trustee of my chapter 13?

Expert:  Law Pro replied 8 years ago.
No, you can talk directly to the lender - anything that you and the lender agree upon will have to be approved by the Trustee though - which wouldn't be a problem.
Law Pro and 12 other Legal Specialists are ready to help you

Related Legal Questions