Many homeowners are watching their real estate values decline yet their mortgage balance remain the same. The challenging real estate market coupled with unemployment have forced many homeowners to try to exiting their properties through a short sale. But what happens...
Month: July 2015
Bankruptcy Pay Down & Negative Equity Solution
In a previous column, I wrote about an initiative that would allow the cram down of first mortgages on a debtor’s principal residence in a Chapter 13 bankruptcy. The cram down was a proposal to cram down the amount of the principal balance due on a chapter 13...
HAMP is not working…
Should congress reconsider legislation that would allow bankruptcy judges to cramdown first position purchase money mortgages on a Chapter 13 debtor’s primary residence?Months ago, I addressed the initiative known as the Durbin Amendment proposed in the last...