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my mortgage holder is claiming bankruptcy what dose this mean for me?
11 ANSWERS
Marriage & Prenuptials Attorney serving Charleston, SC
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Evan Guthrie Law Firm
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The mortgage will most likely be sold and transferred as an asset of the bankruptcy and you will have to continue paying the mortgage to the new holder.
Answered on Jun 18th, 2012 at 4:17 PM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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It means a mess. I just received 2 bankruptcy notices from lenders in my clients' cases. I am trying to figure out what that means with respect to a stay of proceedings, objections to claims, and the like. If you are just making payments and have no problems with the lender, it probably means nothing. Just make a written record of payments, etc. Keep copies of everything that you send.
Answered on Jun 18th, 2012 at 8:59 AM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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Your mortgage company probably filed a reorganization. Generally, your rights are unchanged. Consult with an attorney as to the specific facts of this case.
Answered on Jun 14th, 2012 at 11:38 AM
Nothing, except that you should make sure you keep very close track of every payment, when it is mailed, when the check is cashed, etc. The only bad thing is that not infrequently information is lost in the transition to a new servicing company. You may have to provide records to prove payments. Just make sure you have the records to provide.
Answered on Jun 13th, 2012 at 12:37 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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It means you still owe the money.
Answered on Jun 13th, 2012 at 11:57 AM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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That should not be a problem. Someone else will take over collecting your payments, possibly a bankruptcy trustee. You should receive a notice.
Answered on Jun 13th, 2012 at 10:53 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You have to pay the mortgage in order to keep the house.
Answered on Jun 13th, 2012 at 10:41 AM
2 Awards
Nothing. You are still obligated to make your monthly payment.
Answered on Jun 13th, 2012 at 10:09 AM
Bruce Arthur Plesser
It means you are a victim of predatory lending.
Answered on Jun 13th, 2012 at 10:08 AM
Daniel James Wilson
Probably nothing. Another company will buy the loan.
Answered on Jun 13th, 2012 at 10:06 AM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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Its not going to change your ownership of the property. The account will probably be transferred or bought by another lender.
Answered on Jun 13th, 2012 at 9:56 AM