Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Ken
Lv 7
Ken asked in Business & FinancePersonal Finance · 1 decade ago

How does my cousin get out of a Chapter 13 pickle?

He is in month 34 of a 36 month plan, payments were all on time. He and his wife rent an apartment and were told by a lender that they could get a mortgage even before discharge. They qualified for the loan, signed an offer to purchase, and wrote an earnest money check Then they told their lawyer, who hit the roof! “BK Court can dismiss, you’re committing fraud, ALL disposable income goes to the court, the court should have had the earnest money. YOU CAN’T DO THIS!”

Now what does he do?

1 Answer

Relevance
  • 1 decade ago
    Favorite Answer

    The lawyer told him what to do so that's what he is to do. Don't get in the middle of this.

    If a person is in bankruptcy clearly they cannot afford a home...what on earth was your cousin thinking? your cousin would get in there and then couldn't afford the home. When push comes to shove they did NOT qualify for the loan, they were merely bamboozled. What they need is their ernest mnoney back if they can get it back. That earnest money is supposed to go to the trustee to pay their old bills. But at any rate they are to cancel the home loan so they don't go to jail.

Still have questions? Get your answers by asking now.