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by **janyd** » Thu Dec 22, 2011 10:11 am

im on bankruptcy and I believe by law you cant modify your mortgage under chapter 13. Does anybody know if a short sale would be considered a modification. Or would I just need permission from the court to sale my property

by **fiacre68** » Thu Dec 22, 2011 10:15 am

You cannot modify your loan or short-sell your home in the middle of a bankruptcy if you are including your home in the bankruptcy. To answer your question, a short-sale is not a modificaiton. A modification entails keeping your home and changing the terms of the loan. A short-sale is when the lender settles for less than what is owed to them.

Law-Forums.org

Would a short sale be considered a mortgage modification?

Would a short sale be considered a mortgage modification?

Would a short sale be considered a mortgage modification?

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