Chapter 13 Bankruptcy In Michigan
What are my options after filing Bankruptcy and home in Foreclosure? Need Help!?
I live in Michigan. I filed Bankruptcy Chap.13 and was basicially denied, cause the monthly repayment plan would not leave me with much money to live off of. Now my house is going back into Foreclosure. My lawyer suggested that if I want to keep the house I could pay what I owe (about 13,000) and can keep making payments. Or I could surrender my home up to Chapter 13 stay here for about 8 months and save my money to put down on another house. What are my options at this point? Am I able to stay here and save some money for 8 months to a year, after foreclosure with out being kicked out? Are there any more options that I may be able to use? Thanks for your input.
Do you want to keep your home? If not, sell the house. The last thing a lender wants is to take someone’s home. They want to get paid. Contact a Realtor (GET A SHARP ONE BECAUSE TIME IS YOUR ENEMY RIGHT NOW!) to list/market your home. Once you go to court, the lender will have representation there. You tell the judge that you are in the process of selling the home. Take the listing agreement or hopefully you can have a signed “offer to purchase” that you can show the judge of your good faith. I’ve dealt with cases like these alot. I have actually left the closing and gone across the street to the courthouse on my seller’s behalf to advise the judge that “we are closing as we speak”. The key is to go to court…..don’t run from it.
Good Luck!
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