Can I lower my house payments by filing bankruptcy?


I've heard that question - Can I lower my house payments by filing bankruptcy? - many times. The answer is "it depends". Let's see what it depends on and how you might go about it.

First, the 2005 bankruptcy code prohibits modifying the terms of a mortgage loan on your residence. So why isn't that the end of the story? Because under certain circumstances you can do something that is very similar. What are the steps involved to find out if that "something" might work for you?

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Malcolm Ruthven | Attorney Advertising

Written by:


Malcolm Ruthven on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.