What lenders will finance a debtor (secured by house) during chapter 7?
Posted: Wed Dec 25, 2013 9:58 pm
The only way debtor is going to be able to settle with the chapter 7 Tee
and a creditor is to pull money out of the house (or let it get sold by the
tee). Debtor would prefer to take out the money. Debtor's credit score
prior to being chased into bk by this one creditor was 780. Are there any
lenders willing to lend to a debtor in this situation? Debtor is elderly.
Will someone give her a reverse mortgage in this situation?
The house is almost free and clear (tee filed adversary to avoid $100k in
liens against a house worth $235k.) Debtor lost homestead.
(PS This case was not filed by me. A lot went on before I flew in to try to
save the day.)
Holly Roark
Certified Bankruptcy Specialist*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
*By State Bar of California Board of Legal Specialization
**For a quicker response, email me at holly@roarklawoffices.com.
I only use gmail for my listservs, and am likely to miss private emails
directed to my gmail account.**
The only way debtor is going to be able to settle with the chapter 7Tee and a creditor is to pull money out ofthe house (or let it get sold by the tee). Debtor would prefer to take out the money.Debtor's credit score prior to being chased into bk by this one creditor was 780. Are there any lenders willing to lend to a debtor in this situation? Debtor is elderly. Will someone give her a reverse mortgage in this situation?
The house is almost free and clear (tee filed adversary to avoid $100k in liens against a house worth $235k.) Debtor lost homestead.(PS This casewas not filed by me. A lot went on before I flew in to try to save the day.)
-- Holly RoarkCertified Bankruptcy Specialist*
holly@roarklawoffices.com**primary email address**
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
*By State Bar of California Board of Legal
Specialization
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