My question involves bankruptcy in the state of: Alaska
Thank you in advance for considering this question for review.
My 86 year old father-in-law is approx. two months behind in his mortgage payments. All he has is his soc security income. Recent medical bills pulled any and all remaining funds from his accounts. We've gone through the load modification process with him from start to finish and he has been denied. They refuse to deal with him to restructure the payments. If he were to file for bankruptcy, is there anyway he could remain in his house by paying whatever the court determines he can afford to pay? As far as we know, there have been no foreclosure proceedings begun....At least none we know of. If this were a viable option, what chapter of bankruptcy would he need to file? At this stage I don't think he can afford to care about his credit rating taking a hit if it would. Any suggestions, alternatives, ideas? Kind Regards, swimdog