Chip Parker: Why does Bankruptcy Court have the highest mortgage modification success rate?

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Chip Parker: Why does Bankruptcy Court have the highest mortgage modification success rate?

Chip Parker: Why does Bankruptcy Court have the highest mortgage modification success rate?

Bankruptcy Law Network- by Chip Parker, Jacksonville Bankruptcy Attorney

As I have previously reported, the highest probability of forcing your mortgage servicer to modify your mortgage is in the Chapter 13 Bankruptcy Mortgage Modification Mediation Program.

Historically, mortgage modifications since 2008 (when mortgage servicers borrowed hundreds of billions of taxpayer money in a program known as TARP) have had dismal results. However, reports show that the probability of a meaningful mortgage modification in bankruptcy court is 75%, and our firm enjoys a success rate above 90%!

WHY? …

[BANKRUPTCY LAW NETWORK]

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2 Responses to “Chip Parker: Why does Bankruptcy Court have the highest mortgage modification success rate?”

  1. JohnR says:

    Has anybody, anywhere else, seen any great help coming from the Bankruptcy Courts? I mean 1 here and another there… but something substantial? ON modifications… has anyone seen any principal reductions through the Bankruptcy Courts? I know of one person who’s BK Atty swears (in Ohio) that he can have her Original Loan “Note” extinguished… but the mortgage remains and she can live in the house as long as she keeps making payments.

    Which sounds like such “crap” to me!

    If there’s no note… then how can their be a mortgage?
    If there’s no note… then who decides to do what with the money?
    If there’s no note… what happens after she makes payments for 30 years… she gt’s an eviction notice?

    Sounds more like to me the Bankruptcy Attorneys are lieing for customers.

  2. Sarah says:

    No principle reductions in Chapter 13, period, the end. Predatory what?
    Liars loan who? Epic fraud when?
    Now, if you happen to be wealthy, and you appear for a judge for items OTHER than your primary home, THEN things are more favorable to the debtor. You don’t lose your skin, mental health, or vacation home.
    If you’re poor, then the law becomes a weapon, against you.

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