Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

im a homeowner and my job closed in 2008 im behined in my morgage…

Customer Question
im a homeowner and my...
im a homeowner and my job closed in 2008 im behined in my morgage and ive asked my bank for a modification its taking almost 2yrs for a response they keep asking for updated info i keep up dating it now im 37000 behind ive gotten a much less paying job just to keep food and lights on my wife on unemployment also ,Q.... should i file for bankruptsy.im
afraid of losing my house...respectfully XXXXX XXXXX for a miricle....
Submitted: 8 years ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 9 minutes by:
6/18/2010
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago
Dave Kennett
Dave Kennett, Lawyer (JD)
Category: Legal
Satisfied Customers: 27,690
Experience: 25 years experience in general law, including real estate, criminal, traffic, and domestic relations
Verified

Dear JACUSTOMER - You can try to seek protection in the bankruptcy court however you would have to qualify for a Chapter 13 in order to be able to make at least some loan payments. The lender has a right to foreclose on the property, even in a bankruptcy, so you can't simply wipe out the mortgage and keep the house. A Chapter 13 can result if lowering payments and can allow you to keep the property but I cannot possibly analyze your overall situation from this website to tell you if you would be eligible.

 

The lawyer fees on a Chapter 13 are generally paid along with the other payments so there are usually few up front costs. You would need to get a consultation appointment with a local bankruptcy attorney in order to have your entire situation reviewed. It does not appear that the loan modification is going to be successful If it's any consolation few of these modifications actually go through as it is just another failed government promise to help.Since your income has been reduced and the balance is so high I doubt that you will qualify but every situation is different so you might as well keep trying.

 

I would still get the appointment with the bankruptcy attorney just to know all of your options.

 

Dave Kennett

Ask Your Own Legal Question
Customer reply replied 8 years ago
what about a chapter 7 bankruptsy could that help this situation im in
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago

Well a Chapter 7 wipes out all debt but the bank and any other secured creditor can take back the property that is used to secure a loan such as houses and cars. If you don't mind losing the house certainly the Chapter 7 would get rid of all debts. That's what I was trying to explain in my first answer about using a Chapter 13 if you wanted to save the house.

 

Dave

Ask Your Own Legal Question
Customer reply replied 8 years ago
what about these law firms that state u can apply for bankruptsy and still keep ur property and car....
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago

That's what is called a Chapter 13. It is a bankruptcy but there is a payment plan. There is no law that allows you to simply wipe out your mortgage and still keep the property. You can wipe out other debts and keep your house by paying the mortgage through reaffirmation and the same with vehicles but the mortgage isn't just going to go away because you file a bankruptcy.

 

Dave

Ask Your Own Legal Question
Customer reply replied 8 years ago
do i have an option of a short sale and can i walk away with some money to start over....
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago

A short sale will not give you any extra money and it is up to the lender as toe whether they will even approve a short sale. So it's an option but I doubt it will provide you with what you want. I wish I had some other solution but the options are very limited in this situation. Another possibility is a deed in lieu of foreclosure where you simply sign the property back to the bank. Once again, it is up to the bank to accept or reject such an offer. You would not receive any extra money from a deed in lieu.

 

The only way to walk away with some money is if the house will sell for more than the mortgage balance. If that happens then you would be able to keep the equity amount.

 

Dave

Ask Your Own Legal Question
Customer reply replied 8 years ago
can i file for a chapter my self without a legal court officer? file the papers to the court my self....
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago
Yes you can represent yourself.
Ask Your Own Legal Question
Customer reply replied 8 years ago
Sorry for the delay at which court do I file my self and what time frame is it to see a judge.do I have enough time to get it started and once I get started can the bank stop it...
Lawyer: Dave Kennett, Lawyer (JD) replied 8 years ago

This is filed in the Federal Court. It is very complicated and I can't predict how fast the case will be heard. Once you file the court will place what is called a "stay" on all creditors from taking any further action until the matter is heard. The Federal Court is separate from the local court system and, while you can represent yourself it is not a wise thing to do.

 

You should be able to get this filed very quickly, even within a few days and then the court will set it on the docket for the first hearing. Bankruptcy is a completely separate area of law and requires some expertise to navigate through all the rules.

 

Dave

Ask Your Own Legal Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Dave Kennett Your Own Question
Dave Kennett
Dave Kennett
Dave Kennett, Lawyer (JD)
Category: Legal
Satisfied Customers: 27,690
27,690 Satisfied Customers
Experience: 25 years experience in general law, including real estate, criminal, traffic, and domestic relations

Dave Kennett is online now

A new question is answered every 9 seconds

How JustAnswer works:

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

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

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.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, 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!!

ElaineAtlanta, 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.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

24,658 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,843 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

44,266 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

301 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

17,183 satisfied customers

Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.

< Previous | Next >

Related Legal Questions
I was 3 months behind on my mortgage when it was bought out
I was 3 months behind on my mortgage when it was bought out by my current company. I was on a payment plan and when I asked about continuing with the new company it was suggested to apply for a loan m… read more
Dimitry K., Esq.
Dimitry K., Esq.
Attorney
Doctoral Degree
17,183 satisfied customers
i work for a plumbing company that requires me to take a van
i work for a plumbing company that requires me to take a van home so i can be on call...this is my full time employment and my source of money can a condo board tell me i cant have the truck parked ov… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I applied for a morgage modification and rec my trail paymnt
I applied for a morgage modification and rec my trail paymnt Poland and afterwards my paperwork that showed the approval. That was 2 and a half years ago my records have not been updated and I continu… read more
socrateaser
socrateaser
1,031 satisfied customers
I am behind in my morgtage payments due to illness and unemployment
I am behind in my morgtage payments due to illness and unemployment over the past 1 1/2yrs. I am currently employed approx 6 months, which I took a pay cut from my previous job. I had been working wit… read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
I am in trial period for a mortgage modification. I am behind
I am in trial period for a mortgage modification. I am behind in my mortgage, however, keeping up with the trial modification payments. I retired January 1st, I am afraid of losing my house, I owe mor… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
so a few weeks ago i got into an accident with another vehicle,
so a few weeks ago i got into an accident with another vehicle, i ran a redlight and we collided. i had not realized my permit was expired (it expired while i was deployed and i DID have a lisenced dr… read more
Dimitry K., Esq.
Dimitry K., Esq.
Attorney
Doctoral Degree
17,183 satisfied customers
My name is XXXXX XXXXX bad i have been fired from my job,
My name is XXXXX XXXXX bad i have been fired from my job, which i was union, excellent record, had intermitten fmla, at same company over 19 1/2 yrs, total yrs. 23.at prof. i was hurt on job sept. 11,… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
22,843 satisfied customers
looking for a lawyer that knows about homeowners insurance
looking for a lawyer that knows about homeowners insurance and the laws that pertain to such cases as a fire and the victims being taken care of during such a traumatic incident..… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
22,843 satisfied customers
I have a homestead that has been foreclosed on for back taxes,
I have a homestead that has been foreclosed on for back taxes, I now have the money to redeem the property but the new purchasers say that they have made very large improvements to the property and wa… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
I am in foreclosure on my home and even though I have the opportunity
I am in foreclosure on my home and even though I have the opportunity to save my house the value is not in it. I have a close friend who wil purchase a home in his name with a morgage. Can i be a co-s… read more
Ray
Ray
Lawyer
Doctoral Degree
33,770 satisfied customers
hello , i have a complicated problem , i have a fta warrant
hello , i have a complicated problem , i have a fta warrant for my arrest in new york city family court for child support , at the time i had an attorney represent me when i got the failure to appear … read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
Had this answered once.. looking for another opinion. In
Had this answered once.. looking for another opinion. In the Divorce Decree, the judge ordered the "Force Sale" of the jointly owned home & profits to be split. This was over 2yrs ago, market crashed,… read more
D. WINOGO ESQ.
D. WINOGO ESQ.
Hearing Officer/Attorney
Doctoral Degree
100 satisfied customers
I was fired and denied unemployment. I had a hearing which
I was fired and denied unemployment. I had a hearing which took almost 10 months to get. The Judge reenstated my unemployment stating The evience does not demonstrate claimant was discharged for misco… read more
Ely
Ely
Counselor at Law
Juris Doctor
24,658 satisfied customers
in 2003 i kept being verbaly abused by a female co-worker so
in 2003 i kept being verbaly abused by a female co-worker so i went to my supervsor and asked him to deal with it and she was promoted within the company the verbal abuse became worse i went to higher… read more
Ely
Ely
Counselor at Law
Juris Doctor
24,658 satisfied customers
I am 2 months behind on my mortgage. I have lost my job and
I am 2 months behind on my mortgage. I have lost my job and drawing Unemployment and Widow's Social Security. I contacted my mortgage company upon being 2 months late and they lowered my payment for 3… read more
Irwin Law
Irwin Law
Juris Doctor JD
7,183 satisfied customers
i live in north dakota. ive tried morgage modification thru
i live in north dakota. ive tried morgage modification thru the lender. i was told that i was a prime canidate for a morgage modification and that i should be alright by the lender. i was laid off in … read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
Recently I aked for your help in appealing a denial of my unemployment
Recently I aked for your help in appealing a denial of my unemployment benefits. Your advice was crucial, and ultimately I prevailed. Now I would like your opinion for a follow-up action in small clai… read more
LawTalk
LawTalk
Attorney at Law
Juris Doctor
128 satisfied customers
hey i brought a car on feb 8 2008 and it had a police alarm
hey i brought a car on feb 8 2008 and it had a police alarm on it so i could not register it when i called the dealer he said he didnt care so i took him to small claims court for a refund ive spent a… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x