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Do you automatically become bankrupt if your home is repossessed?
Wiki User
∙ 15y ago
Absolutely not....THEY ARE DIFFERENT IN MANY, MANY WAYS. That you don't understand the differences - and are dealing with either as a possibility - GET A LAWYER TODAY...NOW...DON'T DELAY.
Wiki User
∙ 15y ago
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What can you do if your home gets repossessed?
Get a job
If you own a home bankrupt?
What is your question?
Can you be sued if you let your mobile home be repossessed?
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
Is your home part of your estate?
If you own your home at the time of your death it will become part of your estate. If the title is held jointly with another person the title will pass automatically to that person at the time of your death and the home will not become part of your estate.
What happens if a police officer's house is repossessed?
then theyre out of a home
Do you have to pay federal tax on a repossessed home?
The home was repossessed in 2005, the FMV and principal balance were both 133,252. The adjusted basis in the property was 114,000. It was a main home for 7 years. Is there a capital gain to be reported on schedule D?
If husband and wife is on the loan for a home and the wife goes bankrupt will the husband lose the home?
if they cant pay for it they will lose the home
Can you still owe money after your mobile home is repossessed?
Yes. The home was repossessed because you failed to make payments you contracted to make. Even though you no longer possess the home, the contract is still in force and must be satisfied unless the lender forgives it,
Can a car be repossessed at another location?
I assume you mean other than your home address. But the answer is yes, it can be repossessed anywhere, provided they are not breaking and entering, such as a locked garage....
Can you go bankrupt on your 2nd mortgage without risking losing your home?
Nope.
What can be done when the lien holder has repossessed your mobile home but has not removed it from your property?
CHARGE THEM STORAGE
How do you get a title on a repossessed mobile home?
You can in some US states. You have to look up the state you are in.
