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You cannot sell your property during a bankruptcy proceeding. If a bona-fide offer is made to purchase the property a motion is filed for permission to sell. If allowed, an order is issued by the court that frees the property from the bankruptcy so it may be sold free and clear of your bankruptcy by the trustee. The proceeds from the sale will then be controlled by the trustee in bankruptcy.
What else can I help you with?
Can you file a chapter 13 if i am in contract to sell my house?
Yes, you can file for Chapter 13 bankruptcy while under contract to sell your house. However, the sale may need to be disclosed in your bankruptcy filing, and the bankruptcy court will need to approve the transaction. It's important to consult with a bankruptcy attorney to navigate the process and understand how it may affect your sale and overall financial situation.
If you filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
If you filed for bankruptcy and the title company knows about it, then you cannot sell your house. Your title is not free and clear so a buyer could not purchase. It also depends on the bankruptcy, you should talk to your lawyer.
Can you keep your house while going into bankruptcy?
No.
Can you request that a bankruptcy be dismissed before the confimation hearing so that you can sell your house?
Yes.
Can you sell your house before the confirmation hearing?
Are you referring to a Chapter 13 bankruptcy confirmation hearing?
Buying house for cash after bancruptcy?
It is not so practical buying a house after bankruptcy because if there is no option for you, you might want to sell the house too, but the price would not be the same as you bought it and it is hard to sell one property.
Can you buy a house if you have filed for bankruptcy?
If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.
Do you have to sell your house if you file for bankrupsy?
Filing for bankruptcy does not automatically require you to sell your house. In many cases, individuals can keep their homes if they are current on mortgage payments and the equity in the home falls within state exemptions. However, this can vary based on the type of bankruptcy filed (Chapter 7 or Chapter 13) and individual circumstances, so it's essential to consult with a bankruptcy attorney to understand your specific situation.
Who will sell you a house with a foreclouser on your credit report?
I don't think anyone will be ready for that.So its better that you can take a way or option where you house will be save from foreclosure.Filing bankruptcy is the very right option for this.Once you file chapter 7 bankruptcy or chapter 13 bankruptcy bankruptcy law has a provision called stop foreclosure and it goes in to the effect immediately after you file the bankruptcy.This way you can save you house and other important stuff.
Can you sell a home that is in bankruptcy?
No.
Why do we have bankruptcy mortgages in Canada?
Bankruptcy mortgages in Canada have been set up because having a house demonstrates some sort of equity on your part. The banks would prefer you to keep making payments on the house and therefore they will make more money then if they were to foreclose on it and sell the house at a discounted price.
If your bankruptcy was discharged a few months ago can you sell your house to a real estate broker before the trustee sale?
If the house was forfeited in the BK, instead of a reaffirmation agreement with the lender..NO!
