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Can you sell your house for less than the loan amount just before filing for bankruptcy?
Wiki User
∙ 14y ago
Future Bankrutpcy is irrelevant. Unless you can pay off the mortgage (using additional personal funds in what your saying), you CANNOT provide title...and hence cannot fulfill your contract to sell...which will just mean the buyers (and agents, etc) will sue and receive damages from you for your not being able to do what you contracted and promised. If you make a bad investment using borrowed funds, the loss is yours, not who lent you the money you asked for!
Wiki User
∙ 14y ago
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If I filed for bankruptcy months before my house was going to go into forclosure & the bankruptcy was complete,then my house was just about to go into forclosure can I still apply for the Obama mrtge relief plan even though I listed my house in the bnkrpc?
Yes, you can still apply for Mortgage Relief after filing bankruptcy.
Can you file bankruptcy on your house if already in foreclosure?
Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.
Is a credit line on your house included in bankruptcy?
That is up to the person filing the bankruptcy. You can include or omit any debt that you choose.
Will my mother-in-law loose her house if my husband's name is on her deed and we file for bankruptsy?
Yes. That issue should be discussed with an attorney before filing a bankruptcy.
If you are in chapter 13 bankruptcy can you file for a voluntary dismissal to refinance your house?
I f that was the main reason for filing the c. 13, you can. Make sure the lender knows about the bankruptcy and you have a refi commitment before you move to dismiss.
Your husband is filing bankruptcy and told you he will file on the house it is in both names can he do this without your permission?
Yes
Is it a requirement to list your house as an asset when filing for chapter 7 if there is no equity in it?
When filing for bankruptcy, you must list any assets you own regardless of their value.
How long after filing bankruptcy are you able to receive credit cards purchase a house or a car?
2 years
Can chapter 7 be dismissed for abuse if your house was refinanced for a large amount of over 100000 borrowed over original purchase amount three years before claiming bankruptcy?
Maybe, but unlikely...the basic Q is was it done in anticipation of bankruptcy.
Can my house be repossessed if my husband is madebankrupt but is not on the deeds?
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
How long does it take for a house to be settled when filing bankruptcy for it to become available for sale?
Your question is somewhat complex, and there may be variations in the process due to laws of the state of jurisdiction for the bankruptcy filing. An excellent primer about either chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal. Also you might contact a paralegal or lawyer specializing in filing bankruptcy in the state of jurisdiction.
If your friend is on a house loan with you and you pay the payment every month on time but he is filing bankruptcy could they still take the house from you?
The deed to the property is what determines ownership and what action can be taken against the property during bankruptcy or the execution of judgment.
