what do i do with my home if it included in the chapter 7 bankrupty
If my home is included in chapter 7 bankruptcy do i just pack up and move???? if i have stayed there for a year making payments and now i want to leave because it is worth way less that what i owe, what do i do ?? and can i leave now after a year of making payments????
You need a lawyer, my advice would be "burn it down and collect insurance money," and if you follow THAT advice, you'll really need a lawyer, so either way, talk to a lawyer.
First of all if your bankruptcy is still open and has not been discharged I would make SURE that your bankruptcy lawyer attempts to challenge the mortgage debt as "unsecured" and have it written off/discharged.
There have been many bankruptcy cases dealing with foreclosure that have ruled that the banks and lenders who are trying to foreclose do not actually hold the mortgage and thus cannot foreclose. This is an important point to raise during your bankruptcy.
In the case that your bankruptcy has already been discharged and the mortgage debt was NOT challenged as "unsecured" I suggest you contact a malpractice attorney and have the bankruptcy re-opened so that you can address this issue.
Please see my hubs and related links for more info... I know a lot of great resources for challenging foreclosures through bankruptcy and helping people save their homes.
by Peter Walsh 5 years ago
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