Legal Question in Bankruptcy in New York


I have a friend who is behind in her mortgage by two months with a Chase loan. (Approximately $3,000.00). She is also behind in her monthly common charges approximately $4,000.00. She is now being threatened by both the bank and Condominium Management Company on foreclosure.

The reason she is behind is that her husband was recently (1 year ago) admitted into a nursing home due to an illness that will eventually lead to his death. Initially she was using his disability check to help pay the mortgage but the nursing home now takes that disability payment for their services.

What steps can she possibly take either to end or delay this proceeding to either get back on her feet or time to sell if all else fails? She resides in New York State.

Thanks you in advance for your comments concerning this matter. It is greatly appreciated.

Doug R.

Asked on 10/26/14, 7:41 am

1 Answer from Attorneys

Antoinette Wooten The Wooten Legal Consulting, PC

If your friend cannot pay the monthly mortgage payments, bankruptcy may not be the option.

If your friend is over the age of sixty-two, she may consider a reverse mortgage.

Your friend may also look into refinancing her mortgage.

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Answered on 10/28/14, 1:28 pm

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