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| Mortgage Bankruptcy Learn how to wipe out your second with a mortgage bankruptcy and learn the methods to "properly" claim bankruptcy on your home and loan. n the case of second mortgages, if the value of the property falls below the loan amount, debtors potentially could reduce the balance of the loan to equal the current value of the property. YES, very interesting stuff! |
This is a discussion on CH. 7 means test - "family size" within the Mortgage Bankruptcy forums, part of the Foreclosure Process category; Hi guys, just wondering if anyone knows about this, I have been researching bankruptcy options, have not consulted an attorney ...
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Hi guys, just wondering if anyone knows about this, I have been researching bankruptcy options, have not consulted an attorney yet, I like to be as informed as possible before taking that step. I saw the census bureau income numbers that they use to see if you qualify for CH. 7. it looks like I am good for my state but its pretty close. What is the definition of family size where bankruptcy is concerned? I have 2 chilcren, 1 (a 12 year old) does not live with me he lives with a family friend out of state, I provide more than half his support financially and I have always claimed him as a dependent on federal tax returns, can I include him in my family according to the law? Also, there is another adult in the household but we are unmarried, will they want to count his income because we live together? And if so, does that mean that he gets added as another "family" member as far as the census / income minimums are concerned? Thanks in advance! |
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: CH. 7 means test - "family size" The BK attorneys will do a consultation for free............because the law varies..........it would be best to do the consultation and have these questions answered by the attorney at that time............just make sure to write up a list of questions so that you don't forget something.......
__________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book | Please donate to LoanSafe.org | Loan Modification Training For Attorneys | Rate Your Mortgage ServicerThe comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here. |
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