Showing posts from April, 2020

Some signs that you should file for bankruptcy

IF you want to watch some videos about your rights when debt collectors are contacting you, watch these videos These are videos put out by a non-profit that helps people deal with debt,and with debt collectors. They will tell you what a collector can and cannot do, and how to stop them when they break the rules.

This is important if you have an FHA mortgage- Call the customer service number on your statement if you aren't sure if you do or not-DON"T PAY THE MORTGAGE FOR A YEAR-NO LATE FEES OR PENALTIES-NO CREDIT REPORTING

'"" ; oE . o ... U . S . DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING ­ FEDERAL HOUSING COMMISSIONER Date: April 1, 2020 Mortgagee Letter 2020-06 To:      All FHA-Approved Mortgagees All Direct Endorsement Underwriters All FHA Roster Appraisers All FHA-Approved 203(k) Consultants All HUD-Approved Housing Counselors All HUD-Approved Nonprofit Organizations All Governmental Entity Participants All Real Estate Brokers All Closing Agents Subject                FHA's Loss Mitigation Options for Single Family Borrowers Affected by the Presidentially-Declared COVID-19 National Emergency in Accordance with the CARES Act Purpose                The purpose of this Mortgagee Letter (ML) is to inform mortgagees of special Loss Mitigation Home Retention Options available to Single F

More bankruptcy education-who is the bankrutpcy trustee and what do they do

Some more bankruptcy education: Who is the bankruptcy trustee in a Chapter 7 or Chapter 13 bankruptcy? What do they do? In every case under chapter 7 or chapter 13 of the Code, a person called the trustee is appointed by the bankruptcy court. The trustee’s job is to represent the interests of the unsecured creditors. That means that all the creditors who lent money to the debtor but did not get security, a mortgage, a car note, etc., but rather only got a promise to repay, are represented by this one person, the trustee. So not every creditor needs to get a lawyer. The trustee’s job is pretty straightforward in theory, and the bankruptcy laws lay it out.. It  includes collecting property of the estate from whoever has it (remember what the estate is, we covers it in an earlier installment of this series), objecting (if appropriate) to an exemption of some of debtors assets if needed, objecting to debtor's discharge if needed discharge, selling estate property and distribut