Small business bankruptcy happens. Sometimes small business firms don’t make it. They fail financially for various reasons and find themselves faced with deciding if bankruptcy is necessary. Bankruptcy is a process you go through in federal court that is...
Bankruptcy. A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. Additionally, the borrower must have re-established good credit...
If you have a prior Chapter 13 bankruptcy case within two years, and it was also discharged, then you won’t be able to receive another one until at least two years have passed. For a Chapter 7 bankruptcy, you will need to wait at least four years after a...
Here is some introductory information on the effects filing for Chapter 7 bankruptcy will have on your home. Mortgage Payments It’s in your best interest to continue making mortgage payments on your home even if you will be filing for Chapter 7 bankruptcy,...
Foreclosures A common reason that individuals file for Chapter 13 bankruptcy is to stop a foreclosure action against their home. A foreclosure can be temporarily stopped with a Chapter 7 bankruptcy, but in a Chapter 13 the foreclosure may be permanently stopped (with...