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Bankruptcy and Mortgage Modification

Most homeowners who have defaulted on their mortgage have heard the term or tried for a “Modification of Mortgage,” in short a modification. A modification is a change of the terms of the original mortgage agreed to by the lender and borrower. A Mortgage...

Foreclosure, Tax Sale and Bankruptcy, Don’t wait

One of the most common reasons one files for personal bankruptcy is to stay mortgage foreclosure. A Chapter 13 Bankruptcy, generally speaking, can be used as a repayment plan for mortgage arrears and other costs associated with falling behind on regular monthly...
What Happens at a Bankruptcy 341 Meeting in Pennsylvania?

What Happens at a Bankruptcy 341 Meeting in Pennsylvania?

Bankruptcy cases involve several stages.  One of the most important phases of a bankruptcy case in Pennsylvania is the 341 meeting, also known as a “341 hearing” or “meeting of creditors.”  The prospect of these meetings can create...

Steps Prior to Filing for Bankruptcy

Filing bankruptcy is not something people want to do, rather something they have to do for various different reasons. When a person or married couple makes the decision to file for bankruptcy there are a few guidelines they should follow to make the bankruptcy...

How much does a bankruptcy cost?

There is no doubt that a person files for bankruptcy when they are not in the best financial position.  Accordingly, a question that we are asked daily is “How much are bankruptcy fees.”  First, the court filing fees including credit counseling,...

Unsecured Debts in Chapter 13 Plans

Chapter 13 Bankruptcy filers generally have to pay a regular monthly payment to the Chapter 13 Trustee. The subject monthly payment is determined by the amount necessary to cure mortgage arrears over a period of up to 5 years or disposable monthly income, in the event...

Stripping Unsecured Junior Liens

On or about January 17, 2012, Sadek Law Office filed an adversary proceeding against a major mortgage servicer for among other things, stripping a wholly unsecured junior mortgage lien. The subject real property at issue was valued less than the first mortgage amount...

Sadek Law Offices, LLC 2011 Year in Review

As the year 2011 comes to an end I, Brad J. Sadek, managing attorney, would like to extend thanks to our staff of attorneys and paralegals for another successful year.  Further, I would like to extend my gratitude to our clients whom we get the pleasure of...