THIS IS A FHA LOAN IN ARKANSAS SALINE COUNTY is a foreclosure and judgement the same my realtor told me that and i dont believe her so im seeking opinions out there. i had a home that is in preforeclosure it goes to the court house october 19th does that mean i have to go to court. im very confused and i dont know anything about foreclosures if you could tell me if this is true also i want to know whats the next step when will it show up as foreclosure on my credit right now it shows foreclosure in proceedings, best awnser 10 points i promise i need help please be very details like a book for dummy details because i dont know what this means i have no clue i need help i just want to know if its a automatic judgement and then they start garnishing my wages i need a very detail step by step what happens i also herd a 1099 on my taxes i dont even know what that means either please help?
48 minutes ago – 4 days left to answer.
Additional Details
this is a FHA LOAN AND I LIVE IN ARKANSAS!
hey i know the difference between them my question is this realor told me that a foreclosure is automatic judgement she said that on october 19th when ur house is being sold in front of the court house i have to go to court but i was never serve by anyone all they did was send me papers telling me that there saleing my home on october 19th in front of the court house, is this a automatic judgement when its sold does the judge issue it automaticaly this dont sound right at all, i thaught they sold the house bill me for the rest if i dont pay it then they take me to court and get a judgement isnt that right how does this technically work please?
i dont want the house i got screwed out of it i was younger and dumb i also co sign on the thing with a x girlfriend and we was never married, so it was all really stupid now im facing it to go to foreclosure i want it to because i dont want to be stuck with her in it and she being late on the payments all the time like she did i got her where i want her in foreclosure and i want this to be sold and ill just be stuck with bad credit that i dont care i can always start all over and fix my credit again with it beign foreclosed rather than being stuck with her 30 or more years screwing my credit up. even a bankruptcy attorney on chapter 7 couldnt even help me with her screwing my credit up for the next 30 or more years
17 minutes ago – 4 days left to answer.
Additional Details
HERES THE LETTER I GOT FROM THE LAW FIRM —————————–Saline County, 10/19/09, October 19, 2009; 518 S Gibson St, Benton, AR 72015; Dyke, Henry, Goldsholl & Winzerling, P.L.C.; Harris and Nearn; 10313-1000—
16 minutes ago

http://tgip.net/counties/counties.php?co… THIS IS WHERE IT SHOWS ONLINE WHAT THIS IS I DONT UNDERSTAND NONE OF IT

This year we went under on our home based business! We filed chapter 13 on September 15 2010! We filed on our credit cards and other non secured debt, but left our 1st and 2nd mortgages off! What I mean by off is that we would be paying directly to the lender and not through the trustee off the court! I thought that we were current with our first mortgage; I knew that we had gotten behind on the 2nd but caught up before filing chapter 13! To make a long story short I didn’t find out until I went online and checked our past bank statements that we were behind on the first mortgage! We are still current on the 2nd but the first is looking at foreclosure! We did receive mortgage modification forms sent to us by the mortgage company the other day! We didn’t ask for them they just them to us! My question is if the mortgage company decides to foreclose will this be grounds to have our chapter 13 dismissed?
@ Real, I have ask my lawyer and he didn’t think that this could be an issue! But I would just like some other knowledgeable people’s opinion on this!

I have heard that creating a living trust might not protect me nor my assetts, particularly if I’m a beneficiary to trust designee, and the one that created the trust. I have 2 kids that I could gift the cash to. Can a lender/creditor come after my kids assetts since they are minors and I’m the custodian of their bank accounts until age 18? I’d really like to find a way to shelter and protect my cash savings (about ,000) that I have worked all my life for, rather then letting a crappy housing market wipe me out in a span of 2 years. I live in Arizona by the way- if that helps. I have never filed bankruptcy, and I always pay my bills, but if i had to foreclose I do NOT want to lose my last and only means of getting myself back on my feet. I fought so hard for so many years to save. Thank you for any advice.
Thank you all for the great advice. I should elaborate as many are thinking "What’s the problem since i have K in cash?". I bought in Jan 2006, & opted for an IO loan for 5 yrs to keep my payment low & save cash to complete a divorce settlement, get a new car, and get my life back on track. I got a really cheap used car with 100K miles & settled the divorce favorably. Since then, my home value slid downward over k. To refinance & return to 100% loan-to-value, it would eat all my savings; & that’s only if someone would lend to me. In hindsight, it was a bad move to buy. I should have probably invested the cash up front to get a fixed loan. Now I’m afraid with all the talk that values will slide another 12%. I dont think I can recover a 30% loss within next 3 years. Thus, when my loan resets, I’ll be upside down & unable to afford the new payment, & Foreclosure would be an option on the table. I just want to protect what is left if I can. Thanks again – Great ideas you all have.

Thanks to anyone who can help. My husband and I filed Chapter 13 bankruptcy a year ago. We are already struggling just paying that and our house note, we applied for a loan mod and they turned us down for both the Obama plan and the Chase program and any repayment program. They said to call my attorney. She wasn’t in so I called another lawyer who told me about all that could be done is to add the back payments into our bankruptcy, well we can’t afford what we’ve got now, I told the people at Chase that we would have to file Chapter 7 and give up the house and I asked how long it would be before they foreclosed, she said they weren’t in foreclosure mode yet because of active bankruptcy but I know once they hear we’re doing Chapter 7 it will be a different story. So I guess my question is, has this ever happened to anyone else and how long did it take after filing Chapter 7 that they foreclosed their home. I just want to know if I have till after Christmas before they take our home. Thanks so much for reading this.
Thank you. The reason we were turned down is because they said we should be able to afford it, well that’s all we could afford and it’s only if my husband doesn’t get laid off or rained out because he’s a welder. We’re behind several payments so I’m sure it wouldn’t take them long to take it.
Thank you guys so much. My attorney had told me a while back she thought we would qualify for converting from 13 to 7. I appreciate all the post. And to the person who said we went in over our head, try telling the hubby that. I tried to tell him that days before he signed the papers. And we have struggled the past 4 years because of it.

I have a ton of credit card debt due to divorce, unemployed;credit in toilet; need to file bankruptcy but…I dont even have the money to do that; I have a 2004 cherokee and dont owe anything on it and would take a loan on it to pay bills and get the money to file bankruptcy but dont know if I am allowed to do that; i am unemployed right now; last year i made nothing basically; have no idea how i have even made it; stopped using credit cards nine months ago; what can i do; the grand cherokee is worth like 7 to 8k it only has 55k miles on it; i just dont know what to do; i want to just get my bankrputcy out of the way; a year ago my life was perfect now its in the toilet; barely even getting by; on food stamps; severely depressed; my precription is like 200 dollars a month and now i cant even pay that; i am 36 and make no money and have not for a long time; have no idea if there is anything out there that will help me; i put in applications and resumes in all day long; its so frustrating; now without my script i will be even more depressed and things will only get worse; i wish there was some short term presription help; my doctor charges 50 dollars a visit and i am down one payment with him; if anyone knows about bankrputy or what i can do; i dont want to get one of those 1 month loans and pay 300 screw that; i cant lose my car; plus i dont even know if you can do that when you are about to file bankrputcy i just dont know what to do anymore anyone with advice and not some stupid spam also i have a mortgage on a small condo and am not behind yet because i have a roommate; last year my brother killed himself; my best friend died a month after that and my wife cheated on me and got pregnant and i got divorced; its like can anything good happen; i have never collected any unemployment because i started my own business so i was self employed; i just dont know
i looked into gettng low income but unless your house is in foreclosure or your car is in foreclosure than they wont help you no matter how low your income is; your house or car has to be in foreclosure or about to get your car reposessed for legal aid to do it and i would have no idea on how to file bankrpuctcy; i have no idea

my husband and i own a house but we are 1 1/2 months behind, in the middle of filing chapter 13 bankruptcy, I recently just found out my husband has been lieing to me about money and that he has a problem with cocaine. He made an appointment for outpt counseling, but I feel like all my feeling for him are gone and want to separate. but here is the problem, We obviously are having a hard time keeping up with payments ourselves, I cant afford it by myself niether can he. He doesnt know how I feel about him. I cant afford a foreclosure and the market is bad so even if we sold the house we’d be in a bind because we wouldnt get close to what its worth. what do i do. im very unhappy.
I have a 3rd shift job and he threatens to get custody of our kid, my parents said that no one can move back in no matter what their circumstances are

I filed for Chapter 7 in Oct 07, and got the discharge in Jan 08. In the chapter 7 I chose to just turn the house over to the bank. Now, the bank is going thru foreclosure. Am I obligated to pay the property tax? How do I respond to the foreclosure to avoid paying, since I already moved out and decided to give up the house?

my mortgage company sent me a notice in Dec. of 2005 saying we were two payments ahead even though we are in a chapter 13 bankruptcy. I questioned this and they sent me a payment history showing we were ahead two payments on our post petition payments. We indeed skipped the next two payments. Then almost 2 years later we get a notice that we are behind and they are going to start foreclosure. They discovered that those "extra" payments were suppossed to go on pre-petition arearages, not post-petition payments, and moved them, making our payments past due. They stopped taking our payments and even returned two payments we had already sent. We have arranged a repayment schedule with them but now the back payments and attorneys fees are about ,000. ! Not to mention that our credit and payment history is screwed up again! Is there anything we can do about THEIR screw up? At least something to help repair our credit?

I am a married mother of two our combined income is 72,000 a year. The onlly way I can save my home {it is being foreclosed] is to file chapter 13. With all my debt that I owe [CREDIT CARD HOME AND 1 VEHICLE} the trustee wants 00.00 monthly for five years. would we be better off to do chapter 7 and let our house go into foreclosure?

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.

Two years ago my house went into foreclosure. I was engaged at the time and put her name on the house also. When we broke up she wouldn’t talk to me about options on selling, so instead she left her father to do the negotiations.
I truly believe that he was out to get me, regardless of what it would do to his daughters credit score. They wouldnt budge to sell the house and when I found out I was able to get a court order to sell the property, it was too late and it went into foreclosure.
After it foreclosed I felt forced to file Chapter 13 bankruptcy, due to the fact that I was laid off and the house sold at auction for 40,000 less than what was owed.
Since then I’ve moved back in with the parents, been in school for the past two years, and plan on transferring to another university next year.
I’ve been able to save enough to put down 30-40k on a house or condo. I’d rather go that route instead of losing money in dorm costs or apartment rental.
Will a bank lend to me?

I filed for bankruptcy (Chapter 13) two years ago and the house still went into foreclosure. I know that this impacted my credit tremendously, but I am getting over the hurt. What are my chances of purchasing another home?

My Cousin’s has filed chapter 13 basically because her house was going into foreclosure.So she filed chapter 13 to stop sale of the house and foreclosure.It stopped everything.Now she has to make payments to a trustee plus her mortgage payment. It’s been about 8 months now she is to date with everything what would happen if she stop paying the trustee payments? Would her house go back into foreclosure even if she current on the mortgage?She taught filing bankruptcy was to help the person now she is worst off then before because she has to pay both payments..Thank you for your help

I filed Bankruptcy (Chapter 7) in 2002 – after a divorce. I then had to file Bankruptcy (Chapter 13) in 2007 because of a foreclosure on my home. I’m one month from finishing the Chapter 13. Is my credit screwed for the rest of my life? What can I do to begin to increase my credit score.

I have filed chapter 13 bankruptcy because my house is in foreclosure. This was a desperate measure but after recalculating my bills I really don’t think I can afford to keep the house. I have not meet with the trustee yet, but I am thinking about converting it to a chapter 7 to get a fresh start because I am up to my ears in debt anyhow (about ,000 not including the house) My husband is unemployed right now and we have 3 kids. So keeping the house would really push my budget to the limit for I don’t make much money. I am not familar with how chapter 7 works? Will it discharge the foreclosure? or will I still have to pay for the house? Also, I have a car and so does my husband, his car is paid for mine is not (I am current on the payments) so how does this work in filing chapter 7? I live in the state of Texas if that helps.

PLEASE HELP!

My parents filed CH 7 in 2005. They included their property in this bankruptcy and left the property shortly after they filed because their full intent was to have the property discharged in the proceedings.

The bankruptcy was discharged in 2007. My parents continue to receive notices from their mortgage company, Ocwen, to collect on the loan. they have been sought after by the county and city for taxes and property maintenance. They have not understood why, because they thought that the property was discharged in the bankruptcy. AND their attorney continually told them that they should just ignore the letters and demands (she even told me this..)

I was told that they are having a sheriff sale for the foreclosure soon on this property. They have been brought to court by the city to collect on property maintenance (the case was dismissed due to the bankruptcy). I finally got a hold of the bankruptcy papers on this case. Through the petition the house was to be surrendered, but the lender filed a Motion and was granted a relief from stay and abandonment. The attorney didn’t contest this (and then failed to tell my parents this- which would have explained why they continued to get harassed by the lender and now subsequent foreclosure 3 YEARS LATER!).

My question is: was the debt/house/mortgage amount in the original petition discharged when the bankruptcy was discharged? There were no additional liens on the property, only the original loan (that was in the claim). I’ve been reading things online but I can’t get this answer clearly enough to know. I know that the lender got relief from the stay and with that they could attempt to rid themselves of the property (albeit 3 years later..), but is the original debt and property no longer the responsibility of my parents? what is their liability, if any? Are any expenses still remaining that are associated with the property no longer any responsibility to my parents because of the discharge?

Help!! (and thanks!!)
ok, this is probably the same question- but simply put.. because the relief of stay and abanodment was granted, does that mean that it removed the house from the bankruptcy discharge? which would be awful!!
I love how this is a story about predatory lending you still have jerks trying to make some easy money. go rot someplace!
Thanks for all of you with real answers!

I have a graduate degree, a masters in Public Administration w/ a concentration in HR & Finance. Unfortunately, I have been chronically unemployed since 2003 as companies are closed, downsize or outsource HR. After 7 years of struggle, I have lost my home to foreclosure, I am facing bankruptcy, and I am living off of my retirement savings, which is dwindling fast.
I am brainstorming on how to change my career path, frugally and expediently. From the research I’ve done, healthcare seems to be a good bet.
I think it would be wise for me to build on the education and experience I already have and compliment it in hopes of opening a door in the healthcare sector.
I found an online program via Seton Hall University, for a Graduate Certificate in Healthcare Administration (5 courses, 15 credits, roughly k). Probably 6 months.
Has anyone taken an online graduate certificate course? Did it reap any rewards and was it a good investment of time and finances? Mostely, was it useful in segwaying into another career path?

Hi,
My house is going under foreclosure and there are two loans. The second loan put a judgment on me. I am trying to sell the house under short sale. Will they come after me for whatever money they loose? If so, to what extent? If I file for bankruptcy will that take care of this mess so that I can begin to rebuild my life? I don’t have anything of value and currently unemployed and my family and I are actually living with my parents in their apartment now. I am a first time buyer and have not refinanced. The house was bought on November 2007. I also stopped paying about five months ago when all this began. Will this never end and will they come after me until I die?
WHAT CAN I DO?

I am currently filing a chapter 13 bankruptcy, and I talked to 2 different lawyers who suggest that I let my mortgage go into foreclosure. I am not late on my mortgage payments, but I am upside down in my loan. My place is literally a money pit. I need to have this place rewired, my water heater just went out. My lawyer suggests that I surrender my home, and rent a place for a few years. he thinks that I should be able to get a mortgage in 3 to 5 years. What do you think?

I work for a non-profit who is really struggling because of the economy. I am certain that the CEO will have to layoff some of the staff off in the coming months. I am not too worried about my job, however I am thinking it wouldn’t be the worst thing if I were to lose my job.

My husband and I lost our house to foreclosure a few months ago. We had a bad loan and ran up a lot of debt because we could not afford our mortgage without using credit cards to pay for everyday expenses like food and utilities. Now the 2nd mortgage has sent us a collections letter for the deficiency of k.

We were planning on seeing a bankruptcy attorney this week, because at this point our credit is already ruined. But, because of our combined income, we do not qualify for Chapter 7 and would have to pay a chunk of our debt back anyway.

I was thinking maybe I could voluntarily resign from my job. If I am not working I will have more time to go back to school next semester, full-time. Money will be really tight, but we are living with my mother-in-law right now so we don’t have any rent to pay, just some of the utilities.

In six months we can revisit the bankruptcy option and then we will qualify for Chapter 7 with my husband’s income alone. Here are some numbers: We owe about k in credit card debt alone. I will net about k in the next 6 months. Is it even worth it?

Please don’t judge me, I don’t need any rude comments from anyone. Yes, I realize that I am posting my dirty laundry online, but this is not my whole detailed story, just enough info to maybe get some much needed advice.

Thank you in advance.