Hi-
I have been checking out a lot of good information on the bkforum, thanks to all who help others learn!
Currently i am up to date on my payments. I am expecting a pay cut and less hours at the start of the new year, so i will be leaving the ranks of just scraping by at the end of each month to join the red ink club, and expect to file chapter 7 in a few months.
My two year old Florida mortgage is through chase and backed by the USDA . I am curious about the deficiency after foreclosure. Does chapter 7 wipe out the USDA claim being a government debt? I have looked through my paperwork from closing to see what kind of terms and conditions the USDA backing has to no avail, the only thing i see about the USDA is a fee for $2387. I am guessing that the deficiency would be around 50k.
Thanks in advance for input on this matter. My worst fear would be not having chapter 7 wipe out the mortgage debt.
Brian
I have been checking out a lot of good information on the bkforum, thanks to all who help others learn!
Currently i am up to date on my payments. I am expecting a pay cut and less hours at the start of the new year, so i will be leaving the ranks of just scraping by at the end of each month to join the red ink club, and expect to file chapter 7 in a few months.
My two year old Florida mortgage is through chase and backed by the USDA . I am curious about the deficiency after foreclosure. Does chapter 7 wipe out the USDA claim being a government debt? I have looked through my paperwork from closing to see what kind of terms and conditions the USDA backing has to no avail, the only thing i see about the USDA is a fee for $2387. I am guessing that the deficiency would be around 50k.
Thanks in advance for input on this matter. My worst fear would be not having chapter 7 wipe out the mortgage debt.
Brian
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