1. Truth is, if the lender is not going to report to the credit bureau, the debt to income ration should be minimized by not reaffirming the mortgage.
2. Borrower‘s struggling through a Chapter 13 have a hard time making mortgage payments on time; thus the likely hood of negative information is high if reaffirmed.
3. If not reported, the borrower can name the payment here or there, catch up payment, and pay whatever late fees accrue; all without risking a negative trade line on a credit report.
What is Sub-chapter 5 The Sub-chapter 5 of Chapter 11 Bankruptcy is a legal mechanism that allows companies and owners in financial duress to reorganize their finances and operations into
People think that filling for bankruptcy is abrupt. One day you are living your life as usual, the next you are selling everything you ever owned so your debtors won’t
Bankruptcy is often misunderstood, leading many to shy away from this valuable financial tool out of fear and confusion. In reality, bankruptcy can provide a fresh start for individuals overwhelmed
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In addition to being a member of the Bar of the United States Supreme Court, Jon L. Martin is also admitted to the Bankruptcy Bars for the Southern and Middle Districts of Florida in the 11 Circuit, Federal District Courts. Jon is admitted to practice throughout the state of Florida.
