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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Stop Forclosure/Need Refinance Posted by Ward-CA- on July 19, 2001 at 9:10 PM In Reply to: Stop Forclosure/Need Refinance posted by Leigh on July 19, 2001 at 4:54 PM : We've been served papers to forclose. We dn't want to sell. This is an investment property that has 6 units. It is vacanat cause it needs work. It's valued at about 325k-375k in Brooklyn Ny. We owe on the 1st 160k and 15k taxes. Will cross collaterize if necessary. It has great income of we only had the money to get the work done. Also, what is a bailout loan/ Will chapter 13 stop the forclosure? =•=•=•=•=•=•=•=•=•=•=•= Leigh, a Chapter 13 filing in bankruptcy will temporarily stop a foreclosure. It won’t cure a foreclosure but it will force your creditors to give you the time (3 to 5 years) necessary to get on your feet financially. Take a look at my reply post to TJ that appears just below your post. Read it over and then go to the link to Nolo’s book on Chapter 13 bankruptcy. It should answer your questions on the benefit of such a filing and whether it’s for you or not. If I were you I think I’d buy it and read it, especially after reading the sample chapter and related info. Follow Ups: Re: Stop Forclosure/Need Refinance Tarence Mann 1:52 PM, 09/01/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : We've been served papers to forclose. We dn't want to sell. This is an investment property that has 6 units. It is vacanat cause it needs work. It's valued at about 325k-375k in Brooklyn Ny. We owe on the 1st 160k and 15k taxes. Will cross collaterize if necessary. It has great income of we only had the money to get the work done. Also, what is a bailout loan/ Will chapter 13 stop the forclosure? : =•=•=•=•=•=•=•=•=•=•=•= : Leigh, a Chapter 13 filing in bankruptcy will temporarily stop a foreclosure. It won’t cure a foreclosure but it will force your creditors to give you the time (3 to 5 years) necessary to get on your feet financially. : Take a look at my reply post to TJ that appears just below your post. Read it over and then go to the link to Nolo’s book on Chapter 13 bankruptcy. It should answer your questions on : the benefit of such a filing and whether it’s for you or not. If I were you I think I’d buy it and read it, especially after reading the sample chapter and related info. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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