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I -- in a world of real estate can often be time consuming it can be confusing to each week we get hundreds of emails.
To -- looking to rebuild your dreams.
Hence the animation Fox's legal analysts -- real estate expert Bob -- here to answer your questions -- -- ready for action.
I've trying to margarine everybody go that I let's go let's go to.
Lois from North Carolina says we filed for bankruptcy for Florida and received a discharge of deaths soon after we were -- the lawsuit.
Now -- very confused which we deal.
First of all what happens a lot of times Brian is people file bankruptcy that that you're discharged.
Whoever had a creditor was cells there -- turns it over to collection lawyers they don't realize that there was actually bankruptcy there's a gap there.
What she needs to do is contact the law firm.
Send a copy of the discharge of bankruptcy showing that that that was discharge.
Send a registered letter confirming that.
To make sure that they don't go after and get a deep ball judgment against her for not responding be very proactive.
Contact them send a copy that discharge and may she get on a phone call -- also.
I here we go Greg is in Georgia he says this we were home at 2006 refinanced in October 2009 we did not put 20% down and we're paying.
For a little mortgage insurance how can we cancel that.
Albright if you remember we talked unless you have at least 22% or more equity in your home.
You're going to be forced to carry that mortgage insurance under the FHA guidelines.
Once you get up to -- 22% equity in your home that CF 30%.
Then you -- contact the servicer of your -- make sure that you have some type of -- to show that in fact you have equity.
After the 22%.
And then they can't cancel the mortgage insurers but they have yet prove.
That there is enough equity that meets the guidelines.
In order to cancel the mortgage insurance -- Paula says it's very simply by default on -- FHA loan.
Can they come after me to collect the debt.
They shouldn't because if you had mortgage insurance at the time.
Which is what you pay for what happens is on that deep fault the insurance will pay.
Up to 85% of that deficiency.
In India Richard greater of the -- we first got it pays 15%.
So long as you -- that mortgage insurance in effect that the -- that the fallen he should have no exposure whatsoever and not have to worry about being sued.
For -- deficiency but she will -- any credit.
Oh yeah anytime you have a foreclosure short sell -- -- and show your credit no matter what Bob Massi thanks so much.
OK Brian potter.
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