Bankruptcy in Negotiating Write Down - Loan Modification Forum

susan spencer · 02-15-2009, 09:17 PM

***,
When you have only one loan and a principal reduction is needed, is an impending BK looked at as an incentive for lender to move on settlement? Can you explain how imminent BK may help in negotiation of this? Thank you.

Moe Bedard · 02-15-2009, 09:32 PM

Susan,

I am not sure what effect filing a BK would have...............you would need to consult with a BK attorney to get the answers for that one. The consultations are usually free.

02-15-2009, 09:17 PM	#1 (permalink)
susan spencer Senior Member Join Date: Sep 2008 Posts: 66 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Bankruptcy in Negotiating Write Down ***, When you have only one loan and a principal reduction is needed, is an impending BK looked at as an incentive for lender to move on settlement? Can you explain how imminent BK may help in negotiation of this? Thank you.

02-15-2009, 09:32 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bankruptcy in Negotiating Write Down Susan, I am not sure what effect filing a BK would have...............you would need to consult with a BK attorney to get the answers for that one. The consultations are usually free. __________________ 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 Servicer The 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.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode