Tag Archives: forbearance problem

• Beware the Forbearance Trap

  • Posted On: August 21, 2012
  • By: Win Mims

  A recent bankruptcy court decision illustrates a common forbearance problem. After missing three consecutive mortgage payments, debtors entered into a Mortgage Forbearance Plan (MFP) with their lender. The plan provided for reduced mortgage payments for six months. The court found that “the parties anticipated that at the end of the six months, the lender would… Read More »

  • Posted in Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy
  • Tagged bankruptcy court, Chapter 13, Chapter 7, debtors, forbearance problem, loan modification, MFP, Mortgage Forebearance Plan
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