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.
What to Do If You Suspect Hidden Assets in a Florida Divorce
Divorce can already be a challenging process, but discovering—or even suspecting—that your spouse may be hiding assets can make it even more complicated. Hidden assets can significantly impact the fairness of your divorce settlement, leaving you at a disadvantage....