House In Bankruptcy

SAVING A HOUSE IN A CHAPTER 13 CASE CURING MORTGAGE ARREARS A person may save their house from a foreclosure action in a chapter 13 bankruptcy case. The first option is to save a house by curing the mortgage arrears.  This requires the debtor to pay the total amount of the mortgage arrears, at … [Read more...] about How To Save a House In a New Jersey Chapter 13 Case?

NJ. Bankruptcy Lawyer Explains When A Person Can keep A Second House In A New Jersey Chapter 13 In a New Jersey chapter 13, the debtor must pay all of his monthly household disposable income, each month, to the trustee for 36 to 60 months. The disposable income represents the amount left over … [Read more...] about Can A Person Keep A Second House In A New Jersey Chapter 13 Case?

What can happen to your house in a chapter 13 A chapter 13 trustee will never sell a debtor’s house no matter the value. Also, a chapter 13 was created to permit a debtor to save their house from foreclosure in the event of mortgage arrears. Immediately upon the filing of a chapter 13 case, the … [Read more...] about New Jersey Bankruptcy Attorney Explains What Can Happen To Your House In A Chapter 13

What can happen to your house in a chapter 7 A New Jerseychapter 7 trustee will only sell a debtor’s house if the house has substantial value. It is very unlikely that a chapter 7 trustee will surprisingly sell a debtor’s house, because prior to the filing the debtor should know the house’s value … [Read more...] about New Jersey Bankruptcy Lawyer Explains What Can Happen To Your House In A Chapter 7

Homeowners in New Jersey are more seriously delinquent than homeowners in Connecticut and New York, according to a Wall Street Journal online article. Reportedly, the number of New Jersey loans in foreclosure reached 6.28%, while the number of seriously delinquent loans reached 10.54%. Comparatively … [Read more...] about Mortgage Delinquency Rates Hit More than 10.5% in New Jersey