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 Tina Your Own Question
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
Type Your Real Estate Law Question Here...
Tina is online now
A new question is answered every 9 seconds

My sister is 70 years old and lives in Texas. Her only

Customer Question

My sister is 70 years old and lives in Texas. Her only income is her SSA in the amount of $500. She received a notice from a tax lender that purchased 3 old notes from another lender that are many years old. The new lender said that her payments for the 3 old loans would be $1,500 per month starting September 15th. If she signs the new loan papers they would not start foreclose on her home. She called them to see if they would accept a payment of $150 out of her $500 and they said no. Is there anything she can do? File bankruptcy with the option to pay them back. Thank you for your help and suggestions. Her brother, George
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Ely replied 1 month ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry to hear about this situation. IS she willing to file bankruptcy to save the home?

This is not an answer, but an information request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.

Related Real Estate Law Questions