Follow Us

Mortgage Modification Post-Bankruptcy Filing

A client just modified her mortgage and cut her principle balance in half after she filed for Chapter 13 bankruptcy.  In addition, her mortgage lender dropped the interest from 6 percent to 2.5 percent.  Now is the time to re-organize your debts and plan for the future.  Get the facts and cut through the myths and rumors.  Rumor has it that you cannot obtain financing if you file for Chapter 13 bankruptcy in Maryland.  Well, my client just did it.  Rumor has it that your credit score will be so bad after bankruptcy that you cannot obtained a decent interest rate.  My client just obtained a mortgage modification at 2.5 percent interest.  It does not get any lower than that.  Historically, interest rates are much higher.  Closer to 7 percent.  Interest rates are low right now so get your finances in order.  Obtain a fresh start through bankruptcy.  Call me.  (Pinhead lawyer disclosure:  your facts and your finances will determine the outcome of your case.   You may not qualify for a mortgage modification for various reasons.)