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Loan modification/Assumption

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Filed BK7 in 2014 with my then spouse. We divorced in April 2016. The house was awarded to me in the divorce. I was unable to keep up with the payments until my portion of the awarded 401K came in so the house went into foreclosure. We have been trying to work through a loan modification and assumption with the bank but I'm concerned that because I've defaulted on several CC's, the assumption won't go through. Divorce is hard on credit.

Does anyone know anything about loan assumption?

My back up plan is to buy the house out of foreclosure with a reinstatement offer and pay the arrears and legal fees and do things that way but the lower interest rate and stretched out terms of the modification would really help me right now.

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