Posted by: admin in chapter 13 bankruptcy laws on
devon.andu asked:
What does surrendering my home up to Chapter 13 Bankruptcy means? And how does that effect me? How does that affect the sale of my house at foreclosure?
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What does surrendering my home up to Chapter 13 Bankruptcy means? And how does that effect me? How does that affect the sale of my house at foreclosure?
Once you surrender your home, you’re out of the picture. After the Bankruptcy is discharged (completed), your home will go into Foreclosure and sold. You home technically belongs to the Bankruptcy court at that point so if there are any remaining proceeds from the sale of your home after all liens on your home are satisfied, those proceeds will be distributed to your other creditors in the Bankruptcy at the executors discretion.
first you dont have to give up your house. i filed in 97 and did a re-affirmation to pay the mortgage and kept the house. If you dont like your house and want out now is the time beacuse you wont take a separate hit on your credit other thatn the bankruptcy. good luck
What has happended so far – are you being threatened???
To be decleared bankrupt there nmeeds to be a court case.
Sounds like vain threats to me. If not contact me.
maybe you shouldn’t go and blow all your money on drugs and ***** from the ***** bank.