Will the HR 200 bill allow the court system to decide to lower my mortgage to the appraised value and wipe out my first?

UPDATED: Jun 8, 2009

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Will the HR 200 bill allow the court system to decide to lower my mortgage to the appraised value and wipe out my first?

I am battling foreclosure and thought 1106 would help me but it did not get through the Senate. I have no bills only a car and can no longer afford my two mortages. One home. Will HR 200 wipe out my first and refi my home for the appraised value so I can keep it? I am currently in a three month trial modification, which is just a bandaide to the problem .I am considering Chp 13 if this bill will help me. Thanks

Asked on June 8, 2009 under Bankruptcy Law, California


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

This is something you should be posing to your state reps and your Dept of Financial Institutions.

If you wish to hire private real estate counsel to help you achieve what you need, try www.attorneypages.com and check his or her disciplinary record at the California State Bar under attorney search.

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