What Does Discharged Loan Mean? | Sapling.com – Discharged loans are a form of discharged debt. Simply defined, a discharged loan is when an outstanding debt has been forgiven. Nearly all loans can be discharged under the right circumstances, though the most commonly discharged are student loans and home loans, or mortgages.
Bankruptcy Information | Credit Reports after Discharge. – Generally speaking, upon Bankruptcy Discharge, credit reports should report a $0.00 balance on all debts that were discharged.They should also state “Discharged in Bankruptcy” or other similar language for each account discharged. finally, there should be no additional reporting after the bankruptcy filing date.
Another Consumer Wins in Bankruptcy Court and Discharges Student Loans – An attorney reader sent me a case about another consumer who successfully had their federal student loans discharged in bankruptcy. This is a rapidly evolving topic and certainly not ever court.
Can you dismiss bankruptcy to sell home? – My attorney recommended dismissal of the bankruptcy since I am more than capable of managing my finances now than I was a year ago. Will it be any harder to qualify for a new mortgage with a dismissal.
How to Discharge a Home Equity Loan in a Bankruptcy. – Your ability to discharge a home equity loan in bankruptcy depends on two critical factors: which chapter of bankruptcy you file and the home’s fair market value. If you file for chapter 7 protection, your chances are nil if you want to keep the property.
After bankruptcy, do I owe on 2nd mortgage? – I filed a Chapter 7 bankruptcy. loan and the lien that is still attached to your home. However, the transfer of the loan to the new company does not bring new liability. You are still protected.
What Happens if a Bank Discharges a Home Loan During a. – In a Chapter 7, the bankruptcy discharge eliminates your responsibility to repay the mortgage, which means the mortgage company cannot file a lawsuit against you to obtain the remaining balance on the loan. However, since the mortgage is a secured debt, meaning the home is collateral for the loan, you have several options.
Bankruptcy in Washington – Washington exemptions – ASSET. EXEMPTION DESCRIPTION. LAW section. homestead. real property or mobile home to $40,000 ( no limit if seeking to discharge debt based on failure to pay a state income tax assessed on retirement benefits received while a resident of Washington, 6.15.030)
FHA Loan After Bankruptcy: Waiting Period, Requirements. – It’s possible to qualify for an FHA loan after a bankruptcy filing. Depending on the circumstances, there might be a waiting period of 12 months to two years from the discharge date.
Mortgage After Bankruptcy Lenders – Dream Home Financing – Finding a mortgage after a bankruptcy lender is possible. How to buy a home after a bankruptcy or refinance. Bankruptcy mortgage guidelines and options.