How soon after a bankruptcy can you sell your house?
You have to wait until it has been discharged or dismissed. At that time the trustee's jurisdiction (control) over the house reverts back to the owner.
However, if you need to do so while the bankruptcy is pending, you can petition the trustee to release the house, state the reason why it would be best to let the house be sold, and the trustee will make the decision whether it can be sold or not.
If you filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
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.
Answer If your bankruptcy is still pending (i.e. - NOT CLOSED BY THE COURT) you will need to get the Trustee's permission to do this. If your case is closed, you can sell your house at anytime. Contact your attorney for more information. Answer If you are not sure, get professional help before you make any decisions because there are legal implications that you need to observe. This independent website has a lot of useful…
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.
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.
No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney. No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney. No…
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.