If the foreclosure or bankruptcy was discharged over 3 years ago, and you have re-established good credit habits since then, you may still qualify. To determine if you should apply for lease-to-own, you should ask yourself the questions listed here. Back To Top

If bankruptcy or foreclosure was due to extenuating circumstances, has been fully discharged for at least 2 years, and you have re-established good credit, then you may be able to get a mortgage. Some examples of extenuating circumstances include: death of a principal wage earner, prolonged loss of employment for reasons beyond the borrower's control, such as site closings, mergers, or reductions in workforce, or a long-term illness, or disability not covered by insurance.

You bet! Depending on your credit, we can help you get a subprime mortgage and work with you to improve your credit. When you improve your credit, we help you refinance your subprime mortgage at prime rates. Back to Top

If you've had a bankruptcy or foreclosure in the past, it may affect your ability to get a new mortgage. Unless the bankruptcy or foreclosure was caused by situations beyond your control, we will generally require that 2 to 4 years have passed since the bankruptcy or foreclosure. It is also important that you've re-established an acceptable credit history with new loans or credit cards.

If a borrower fails to make regular mortgage payments in accordance with the terms and conditions of the mortgage agreement then the lender can resort to foreclosure. Lender has the rights to put the home for sale in the open market to recover money due to him.

It usually takes two years after your bankruptcy case has cleared to be approved for a mortgage, after you have improved your credit score.

Filling for bankruptcy will stop the process of foreclosure on your home. In most cases, once you file your case, an "automatic stay" immediately goes into effect. The automatic stay means that a bankruptcy filing automatically stops most lawsuits, including foreclosures. However, you will still need to do specific things to be able to keep your home, including perhaps choosing to file a Chapter 13 instead of a Chapter 7. We'll discuss this in detail during our meeting.

YES! The automatic stay that goes into effect when a debtor files bankruptcy stops foreclosure. Chapter 13 bankruptcy forces mortgage lenders to allow debtors to 'catch up' on delinquent mortgage payments over a typically a 3 - 5 year period, curing the default on the mortgage. ( See the section above Will I loose my home if I file for bankruptcy?)

Yes, provided that you have not previously filed bankruptcy cases which were dismissed. A home is an asset usually secured by a mortgage. While a Chapter 13 will stop a foreclosure, unless you begin making current payments, a creditor will be successful in obtaining permission from the Court to institute a new foreclosure proceeding. Assuming you can make your monthly payments after you file a Chapter 13 Plan, you can catch up your arrearages under Chapter 13 and avoid foreclosure of your home.

Many, many bankruptcies are filed to stop foreclosures. So long as the bankruptcy petition is filed before the day the real estate is sold, and in some cases within 10 days thereafter, the foreclosure can be stopped. Bankruptcy can also stop a repossession. A court order is entered automatically upon filing of the bankruptcy case which prohibits creditors from taking any action to collect their debts, including repossessions.

Forbearance and Repayment which is the most common way of resolving a loan default is to work out a plan which will let you repay part of the delinquency each month, along with you regular monthly installment. If you are temporarily unable to meet your monthly mortgage obligation, your holder may extend forbearance by agreeing to suspend payments for a limited period of time until you will be able to begin a repayment schedule.

The sale dates and final judgments can be viewed at www.clerk.leon.fl.us by clicking "View Foreclosures" under "Online Searches" on the Clerk's homepage. You will see the list of sales scheduled, and may select a date to view the case number, style of the case and legal description.

If a homeowner fails to make mortgage payments, the lender may foreclose on the property. Depending on state law and the terms of the mortgage contract, the lender may do a statutory foreclosure without going to court or a judicial foreclosure in court. State laws provide strict regulations regarding proper notices and opportunities to pay before the property is sold in a foreclosure sale. In several states, a homeowner may stay in his or her home during a foreclosure.

If your are in mortgage foreclosure and you want to keep your house, call us right now (1-800-661-0464). Don't wait another minute! We work closely with one of the top foreclosure consultants in the Philadelphia area, and we can refer your case to them. If that doesn't solve your problem, we may be able to help you delay foreclosure long enough to get your house sold at a decent price.

Yes, Chapter 13 bankruptcy plans can arrange for car and mortgage payments in the reorganization, and the creditor is expected to accept these payments in lieu of foreclosure or repossession.

Mortgage foreclosure sales are conducted by the Clerk's office according to Section 45.031, Florida Statutes, and are held at 11 a.m., Monday through Friday. The sales are held in the north rotunda, plaza level of the Leon County Courthouse. Prior to the bidding, the deputy clerk conducting the sale will read an announcement informing potential buyers of their rights and responsibilities under Florida law. A description of the property may also be read at this time.

You can reinstate your mortgage at any time up to the foreclosure sale date if you pay all past due payments plus any fees and costs associated with the foreclosure.

Yes, generally we can go to 65% LTV on foreclosures (70% LTV on an exception). These usually are full doc loans requiring an acceptable credit explanation. The loan must make sense, we will not put someone into a worse situation. We have received approvals and closed these types of loans in the past. We recommend that the borrower contact an attorney A.S.A.P. for legal advice and options.

a general rule, a bankruptcy will not effect the terms of a mortgage. A Chapter 13 bankruptcy can allow a person to repay delinquencies over a three year period. However, at the same time, they must continue to make the new payments as they become due. A bankruptcy will not allow you to force a bank to modify your interest rate, monthly payment, or term of the loan, especially a first deed of trust. There are some minor exceptions to this rule with a second deed of trust.