1 yr ago I filed bankruptcy, divorced and 6 months ago refinanced home,can't pay-want bank to foreclose?
Answer:
It's ok it happens to the best. Go to the lender and ask for a forberance agreement and ask them how they can help you given your income situation. Most of them will help you they don't want your house. Once the agreement is done, if they will do one, then you will have a better direction. If they won't do one then try to sell before they foreclose. If no sale then I'm afraid that they will foreclose. Since you recently filed bankruptcy assuming you are on a plan or got discharged, and then did the house (if you filed for bankruptcy after you did the loan your house is in an estate and it does not belong to you) any foreclosure of your home that does not generate enough money to pay for the debt can also lead to garnishment of your wages after the judgement on a deficiency is reduced to the garnishment. I certainly hope that your lender will be reasonable given your circumstances.
Buena Suerte
can you talk to your bankruptcy lawyer? have you spoken with them about any options pertaining to this forclosure?
that's the best bet.
Call your bankrupcty attorney and explain, he may have good ideas.
Call your bank and explain, ask for options.
Your best bet is to contact your lender and tell them your situation. Maybe they can work something out. If not, contact me if you're in Southern California and I will help you out. Your next step is to do a short sale or see if you can do some type of rent to own (like a PACT Trust).
Regards
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