Can I Modify My Loan In Bankruptcy?

Jan. 11, 2011 - PRLog -- One of the first course of actions homeowners take when they are facing foreclosure is to file a Bankruptcy to save their home.  And in some cases the bankruptcy attorneys will simply put these homeowners into bankruptcy without explaining the pros and cons of filing a bankruptcy.  For some, bankruptcy is a good option, but it’s not for everyone.  A good bankruptcy attorney will tell their client that wants to save their home to first apply for  a Loan Modification and then if they still need to, to file the bankruptcy After.

"The reason for this is, if a homeowner files for bankruptcy, then it limits them to only a few Loan Modification programs and when a homeowner is facing foreclosure they need all the options available to them to avoid foreclosure, says Marlon Baugh, Author & Mortgage Modification Expert."

It wasn’t until a few months ago that the government introduced Loan Modification programs for home owners that have filed bankruptcy.  

Statistic show that  over 70% of homeowners that file Bankruptcy cannot complete the plan, so they end up back into foreclosure without the protection of the bankruptcy court and now also have a black mark on their credit report.  Homeowners should also know that the foreclosure will not start over but continue where the lender left off.

Florida - based author and loan modification expert Marlon Baugh specializes in providing information to consumers that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Marlon Baugh is available for interviews and will welcome all your mortgage related questions.

http://www.youtube.com/watch?v=sx7ZbUpYkKg



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Marlon Baugh is an author and nationally-known mortgage expert. Since 2003, he has specialized in mortgage loans for people with Bankruptcies, Foreclosure or with other credit issues. For more insider reports please visit http://www.insiderloanmodificationsecretsexposed.com