When you are having trouble making your house payments, there are options that might work well for you. One of these options is a loan modification. This is when the bank changes your loan so that you have a lower, more affordable monthly payment. Many people who try to obtain a loan modification have been [...]

If you are behind on your house payments and are considering filing Chapter 13 bankruptcy to save your home, it is important that you find out whether you have forced-placed insurance. Your bankruptcy attorney may ask you whether your homeowner’s insurance payments are usually included in your mortgage payments (in other words, whether your insurance [...]

The short answer to the question is yes.  When a homeowner is facing foreclosure they should immediately look at their options in filing bankruptcy.  Whether you are looking into options for keeping the house or surrendering it, bankruptcy could very well be the best option for you.  The hardest decision for most people comes down [...]

Rental properties can be a great source of income until a renter moves without notice or fails to pay or that rental income starts to be used for your personal household expenses.  As situations arise, many people are finding it necessary to file bankruptcy and surrender a rental property or properties they own.  When you [...]

Property that is surrendered or was not protected under the bankruptcy code exemptions is fair game for the bankruptcy Trustee.  Once a debtor has filed bankruptcy, his estate becomes that of the bankruptcy court and the bankruptcy Trustee. At that time, the Trustee determines if there is any value or potential value in any of [...]

Many people have been led to believe that a homeowners’ association cannot foreclose on their home.  That is not true!  Homeowners’ associations foreclose on property everyday across America and very likely everyday in North Carolina. If your neighborhood has a homeowners’ association, you received and signed documents acknowledging the association’s rights when you purchased your [...]

Have you ever had those times when you were running short of cash?  There was that unexpected car repair or the kids’ summer camp deposit you didn’t have in the budget.  You knew something had to give that month but you weren’t sure what!  When you considered the options of what you could do without [...]

You sure can! It may be a bit more difficult to find a place that will rent to you than it otherwise would be, but be patient. Depending on the rental agency, you may be required to pay a higher security deposit or even be required to have a co-signer. It really depends on the [...]

If you are behind on your house payments and have decided you no longer wish to keep the house, you may be looking at your options including a short-sale, deed in lieu of foreclosure and bankruptcy.  For this blog, we will specifically look at the short-sale.  A short-sale occurs when real property (house, land, etc.) [...]

For homeowners that have fallen behind or “defaulted” on their mortgage loan and have decided they do not want to keep the home, a deed in lieu of foreclosure may be an option for them.  In the simplest of terms, the deed in lieu allows the homeowners to voluntarily transfer the property from the homeowners [...]