Category Archives: Home Mortgages and Bankruptcy

Do I Need to Keep Paying Homeowners’ Insurance after I Surrender my Home in Bankruptcy?

After the surrender of a home or other real estate in a Chapter 7 or Chapter 13 bankruptcy in Michigan, you should still keep the property properly insured until you are no longer the titled owner of the property.

Click here to read more about homeowners insurance after a surrender in bankruptcy on the new Michigan Bankruptcy Blog of Michigan Bankruptcy Attorneys The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact us at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

Are Property Taxes Priority Debts in Bankruptcy?

Property taxes are not paid in Chapter 13 bankruptcies filed in Michigan if you are surrendering the home. But, if you are retaining the home and have back taxes owed, how are those taxes paid in the Chapter 13 payment plan?

Click here to read more about property taxes in Chapter 13 bankruptcy in Michigan on the new Michigan Bankruptcy Blog of Michigan bankruptcy attorneys The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact us at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

What Is My Redemption Period in Michigan if I Have More Than 3 Acres of Land?

The length of the redemption period in Michigan is no longer simply 6 months if you have less than 3 acres of land and 12 months if you have more. In December, 2011, the Michigan legislature made a change to the statute governing the redemption period in Michigan.

Read more about the new rules concerning the redemption period in Michigan here on the new Michigan Bankruptcy Blog of The Hilla Law Firm, PLLC, Michigan bankruptcy attorneys.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact me at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

How Can I Save My Home with a Chapter 13 Bankruptcy?

While Bankruptcy is one of the most cost-effective and efficient legal means of walking away from an underwater or foreclosed home available, it is also, under the right circumstances, a better means of saving a home in danger of foreclosure than other non-bankruptcy strategies, such as mortgage modification.

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What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a “reorganization” bankruptcy rather than a complete liquidation of debt as in a Chapter 7. A Chapter 13 is, basically, a payment plan enforced by the Federal Bankruptcy Court upon all of your creditors, whether the debt is a “dischargeable” debt like a credit card or “non-dischargeable” debt like a child support arrearage or recent income taxes owed. Contrary to popular belief, you are not required to pay back 100% of what you owe to your creditors in a Chapter 13.

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Home Mortgage Loan Modification and Bankruptcy: Before, During and After Your Bankruptcy

Guest Post by Atlanta Bankruptcy Attorney Peter Bricks.

A home mortgage loan modification can be differently challenging before, during, and after a Chapter or Chapter 13 bankruptcy.

To read more about home mortgage loan modification and how bankruptcy may affect the process—or be affected by it—click here to read our full article on this subject on the new Michigan Bankruptcy Blog of The Hilla Law Firm, PLLC, Michigan bankruptcy attorneys.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact me at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

Can a Chapter 7 Bankruptcy Trustee Sell My House after My Case Discharge?

A Chapter 7 bankruptcy Trustee may indeed attempt to short-sell or sell your foreclosed or surrendered home in your Chapter 7 Bankruptcy. However, there are steps that an experienced bankruptcy attorney can take to limit the Trustee’s reach.

To read more about this topic, click here to read our full article on bankruptcy Trustee short sales and real estate sales on the new Michigan Bankruptcy Blog of The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact us at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.