Legal Question in Bankruptcy in Texas

Re: Chapter 7 Bankruptcy Question

Neither. That was SB61 which has stalled in the Senate. It was a proposed law, but it never passed.

It is an increasingly-common misconception that you can get a modification of your loan. As more people hear about them, more scams pop up promising things that cannot be done. See http://dallasdirt.dmagazine.com/2009/04/07/dallas-has-its-share-of-mortgage-ripoff/ for example. Lots of brand-new companies out there have started websites that promise the moon. Don't believe it.

Now, what a Chapter 13 WILL do for you is to take all the past due on your mortgage and let you pay it back spread out over 5 years. In the meantime, you get to keep the house. Best of both worlds!

Rustin Polk, Atty.

www.214bankruptcy.com