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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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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: 10 months ago.
Category: Real Estate Law
Expert:  Ely replied 10 months 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.

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