Lakeside, CA asked in Bankruptcy for California

Q: Do I have a case if interest is to high ? And bank refuses to work with debtor

Filed a chapter 7 bankruptcy and fell behind on a 6.75% loan and am told a move to foreclose may happen

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1 Lawyer Answer
Madhu Kalra
Madhu Kalra
  • Bankruptcy Lawyer
  • Torrance, CA
  • Licensed in California

A: It depends upon your home loan, if you qualify for loan modification program. If your loan is not of a kind, which is qualify you for loan reduction and you filed for chapter 7 bankruptcy, you house is not protected, bank may move to seek relief from stay and continue with foreclosure proceedings. I would recommend taht you speak to a bankruptcy lawyer to explore all the options available to you before its too late.

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