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Topic History of: mortgage trust
Max. showing the last posts - (Last post first)
Author Message
Shellrott anyone had any success negotiating the trust mortgage? I've done 2 this month alone and its a great alternative to bankrupcty. The downside is the time that it takes to negotiate and settle. Its a little quicker with a bankruptcy.
chris We just talked about the mortgage trust in bankruptcy course. The problem is that it usually doesnt work and does not publish judicial notice to all creditors. Chp 7 or 13 is the best way to protect the claim from all claims.

On top of that, it usually takes a lot of time to implement and settle. With Chp 7 the debtor can get a resolution within 4 to 5 months.
et non I have to say this sounds interesting to me too, I have not heard of this concept. There is so much out there, but so few people actually have the information. That's why these sites make such a difference.
OnTheGo Is this like those debt relief agencies. Or does any attorney handle this, how does this work? Its a concept I am not familar with. More details please.
Shellrott There are a lot of posts asking how to negotiate away debt without filing bankruptcy. One commonly used mechanism is a mortgage trust whereby the debtor puts assets in the MT and the independent trustee negotiates with creditors to split the MT assets. This way, the debtor avoids filing bankruptcy and the debtor gets out of the debt.

Check into it. It works and you dont need to practice bankruptcy to create this.
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