For cases where the parents had borrowed money, say $ 20 000, and the people are paying $ 1,000 per month for 8 months ($ 8,000 total) shortly before filing your bankruptcy, it is not the trustee to repay the money - they go directly to the creditors, the funds received - in this case, your father. You continue with your mother, who found $ 8,000 in back real estate bankruptcy, so that your creditors are paid in equal parts. Your mother is in the list of creditors, and assign a percentage of the creditors are entitled to receive in bankruptcy. If you have questions about your money concessional payments to creditors, it is advisable to consult a lawyer in bankruptcy, or San Mateo in San Jose experienced bankruptcy attorney before filing your case. You can unintentionally unnecessary stress headache your favorite mother and much more. . For several years, various plans have presented your legislators to help the mortgage crisis. COPE program is the best known. Last major version was the bankruptcy code for first mortgages on primary residences Chapter 13 filers at the time of a Chapter 13 bankruptcy can be modified to change. First mortgage on a principal residence can be a sacred cow in bankruptcy. It can not be changed. This change in law was also killed in the Senate. Principal repayment schedule is the new brand is trying to help people with underwater mortgages or secured under get some relief and help them keep their homes phones. A mortgage is secured under, if the value falls below a house, what owe on the mortgage (s). As your PPP? PPP would plan to owners of underwater mortgages at one side 13 bankruptcy and slow rate of interest on your mortgage at 0% for a period of Chapter 13. Pay 0% interest on the monthly mortgage is often used instead of primarily as a result of the mortgage and interest rates. Monthly mortgage payment can also be reduced. How many months is the mortgage payment is by calculating 31% with a gross profit of bankruptcy. This is comparable with such modified mortgage payment Hampshire program is established. Maximum length of a Chapter 13 plan is five years. This allows an owner to repay the principal had significantly within five years and slow the negative equity. Completed after five years of Chapter 13 approach, the remaining balance will be amortized over 25 years, Freddie Mac survey rate value. Accept as a trade in a mortgage company and / or service marks on this treatment in a Chapter 13 reorganization strategy, waived all future mortgage on the borrower company or organization, the loan or litigation services. The concept is that the new owner is in Chapter 13 bankruptcy of a house that is closer to what is owed on the mortgage exit. For some owners of their house value has dropped so much not in the last 5 years will result in lower interest rates to achieve equity in their home in the foreseeable future. This plan does not limit, but nothing can be improvement over the current loan modification system.