Home Buyer News

New Federal Loan Modification Rules To Now Work With Chapter 13 Bankruptcy Laws

However, having an open Chapter 13 bankruptcy can be a death sentence when you’re trying to apply for a loan. Most lenders won’t consider applicants with an open bankruptcy. Here is a comprehensive guide on some methods you can use to obtain a loan even if you have an open Chapter 13 bankruptcy.

Should you try to get a loan modification done with your lender or should you file bankruptcy? The decision to do a loan modification is something you can accomplish yourself or you can seek professional assistance. If your home is really that far underwater, a loan modification might not be enough to help you.