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Loan Modifications › Chapter 13 › Bankruptcy Code

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Bradley Arant Boult Cummings LLP

Bradley’s Bankruptcy Basics: Chapter 13 Bankruptcy — Consumer Bankruptcy with a Payment Plan

Bradley Arant Boult Cummings LLP on

Chapter 13 bankruptcy provides relief only to individuals with regular income. This Chapter is most frequently used by debtors who have sufficient disposable monthly income to make some payments over time to their creditors....more

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

Baker Donelson on

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

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