All > Business > Finance > Personal Finance > Mortgage

• this type of bankruptcy sets a payment plan between the homeowner and the creditor monitored by the bankruptcy court. The homeowner can keep the property, but must make payments according to the court's terms within a three to five year period.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
  ×

  Cite Definition for Chapter 13 Bankruptcy

  American Psychological Association (APA)

  Chapter 13 Bankruptcy. (n.d.). Making Home Affordable Glossary. Retrieved December 3, 2022, from website: http://www.expertglossary.com/definition/chapter-13-bankruptcy.

  Chicago Manual of Style (CMS)

  Chapter 13 Bankruptcy. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/chapter-13-bankruptcy (accessed: December 3, 2022).

  Modern Language Association (MLA)

  "Chapter 13 Bankruptcy." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 3 December. 2022 http://www.expertglossary.com/definition/chapter-13-bankruptcy.

• Browse Related Terms: Chapter 13 Bankruptcy, Debt-to-income (DTI), Escrow, Escrow Account, Escrow Analysis, Forbearance, Home Affordable Unemployment Program (UP), Housing expense, Monthly Gross Income (MGI), Mortgage Payment, Mortgage Payment Guideline, Pricipal, interest, taxes, insurance and homeowners association dues (PITIA), Primary or Principal Residence, Repayment Plan, Servicer, Underwriting

Also listed in:

• All > Business > Real Estate