Misunderstandings in foreclosure and bankruptcy- how to protect your home

Bankrate.com has an excellent article on keeping your home in the pending face of a foreclosure. It asked its expert Justin Harelik to address this question:

“I'm filing bankruptcy. I am behind on my mortgage payments but not in foreclosure. I plan on reaffirming the loan but can they still choose to foreclose instead of reaffirming with me? If that happens, I was also going to hire a foreclosure defense attorney to challenge their ownership of the note, but don't know if I can do this through the bankruptcy process or wait until I reaffirm the loan?”

The expert’s answer-

"Unfortunately, I don't think you are getting correct information. You are discussing one thing that is not an option and another that is highly speculative."

To get a handle on what’s wrong with these two approaches and a suggested approach to the writer’s problem read the full article “Preforeclosure options to keep a home.”

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Title Inc.

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 201-656-4506

E-mail vti@vested.com - www.vested.com

Sphere: Related Content