“Proper Planning for Bankruptcy and Foreclosure is Crucial”

“Proper Planning for Bankruptcy and Foreclosure is Crucial”




Hi Rich –

The only thing that scares me is "if funding is realistic in 4 years" - that's a BIG "IF"!  If I can get you into state court mediation, next spring will be a breeze. I'm pretty confident I can do that.  If the court won't let you into mediation, I still think we're fine.  The United States is a party to the foreclosure and when that is the case the lender has to have a foreclosure by sale, even if there is no equity.  So that automatically takes more time. 


I'd rather have you speak to a mortgage broker about the timing.  You may want to reach out to Joe Petrowsky at Right Trac Financial in Manchester.  He's fantastic.  His number is 860-647-7701.  Let him know you're a Chapter 13 client of ours. 


This bankruptcy attorney is wise to have their clients get advice from a mortgage specialist when it comes to planning for their future mortgage needs. So often they give advice to their clients without truly understanding what the current guidelines are. The caveat that we give, these are the rules today however they can always change and sometimes things change in a less favorable way.

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 4 commentsJoe Petrowsky • October 23 2017 01:45PM


The more information people in this situation have up front, the better they will do in the future. 

Posted by Kat Palmiotti, The House Kat (406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty) almost 3 years ago

There should a lot of thought go into preparing for those two unwanted horrible experiences anyone go thru.  I have been through them, so I know! 

“Proper Planning for Bankruptcy and Foreclosure is Crucial”

Posted by Sham Reddy CRS, CRS (H E R Realty, Dayton, OH) almost 3 years ago

It's worth talking to a specialist to help navigate the process.

Posted by Nathan Gesner, Broker / Property Manager (American West Realty and Management) almost 3 years ago

Most of the time it is last minute and unplanned due mainly to ebing in a state of denial.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) almost 3 years ago