Submitted by Anonymous (not verified) on Wed, 02/23/2022 - 21:12
WHAT HAPPENS AT THE END OF A COVID-19 FORECLOSURE FORBEARANCE?Can servicers demand a large balance?
Generally, the servicers should not be demanding full payment following a COVID forbearance. There are a number of loss mitigation options for people coming out of a COVID forbearance. In order to know which may apply one needs to know who owns the loan (who is the investor). Is it a GSE, FHA or private label loan?
Submitted by Anonymous (not verified) on Mon, 02/14/2022 - 18:23
As many readers are aware, individuals whose income exceeds the median income in New York State are required to do "means testing" to determine if they qualify for chapter 7 personal bankruptcy.In New York State the median income for a family of 1, 2 or 3 is listed below and if a Debtor’s income exceeds the state’s median income they must do means testing. Household Size Monthly Income Annual Income1 $5,058.00 $60,696.002 $6,429.92 $77,159.003 $7,709.00 $92,508.00 If an individual wants to file for chapter 7 bankruptcy and they do not pass the means test, then there is a "presum