Wednesday, December 16, 2009

Bankruptcy and Foreclosure Fact Sheet Now Available

The Minnesota Home Ownership Center, working with our partners at the Volunteer Lawyers Network and the Housing Preservation Project, has just released a new Fact Sheet with answers to frequently asked questions about the issue of bankruptcy and foreclosure.

The fact sheet, available here, answers such questions as:
  • What happens to my mortgage in bankruptcy?
  • What happens if I file for Chapter 13 bankruptcy, and default on my mortgage payments?
  • Can I convert a Chapter 7 bankruptcy to a Chapter 13?

These, and several other questions, are answered in the new fact sheet.

In addition... the Center is continuing to work on a fact sheet that answers questions about the complications that arise when homeowners declare bankruptcy but still need loan modifications.  Stay tuned!   

Did you know that the Center now has over a dozen Fact Sheets that can help struggling homeowners answer questions about their mortgage and foreclosure?  A complete list of Fact Sheets is here.

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