There are no mechanisms in bankruptcy that would force a mortgage company to modify the terms of their note. They have a contract, you signed on the line, you agreed to pay, they agreed to give you the money. There’s no mechanism in the bankruptcy code that forces a creditor to do that. However, what we found in this climate, in this economy, that mortgage companies are coming forward and they’re offering clients deals, whether it be a 7 or 13, to modify and to try to keep that debtor in that home.
Addressing Financial Abuse in Florida Families: Steps to Take
Financial abuse is a pervasive form of control and manipulation that can have profound and long-lasting effects on individuals and families. In Florida, recognizing and addressing financial abuse is an important step towards regaining independence and securing a...