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June 2015 Archives

How can I prevent foreclosure on my home?

In our previous post, we discussed how the Supreme Court ruled that second mortgages and liens can't be stripped as part of the Chapter 7 bankruptcy process. That new ruling might have some people concerned about how they can avoid foreclosure. There are several things you can do if you are facing a foreclosure on your home.

Second mortgages can't be canceled in Chapter 7 bankruptcy

Many people who file bankruptcy have mortgage payments. The ability to have these mortgages canceled during the bankruptcy process has been changed by a recent unanimous ruling by the United States Supreme Court. The ruling has to do with second mortgages for properties that are underwater.

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