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What bankruptcy can you file to keep your home if you are behind in payments?
Wiki User
∙ 11y ago
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
Wiki User
∙ 11y ago
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If you filed bankruptcy would your house be foreclosed on?
If you file for bankruptcy the court will be in charge of finding a fair settlement. They can require the person in bankruptcy to sell their primary residence if that is the main asset of value. The rules vary by jurisdiction. Independent of the bankruptcy the lender who has a loan secured by the property can foreclose and force the sale of the home if the payments are not made as agreed. A bankruptcy does not release the borrower from keeping up the payments on the home loan. As most loans state, if you fail to keep up with your payments your home is at risk.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
If your home has equity and you file bankruptcy on the credit cards do they go after your home?
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
Can i claim bankruptcy on my car loan if I'm not behind on payments?
Bankruptcy is not claimed on individual loans, a bankruptcy involves all your debt. The fact that you are current on your car loan may make it easier for you to negotiate with the lender for the continued ability to pay for your car but it doesn't mean that you get to have it for free. The same is true of a home loan.
Can you file bankruptcy and keep your home to rent it?
yes in texas and south carolina
Can you keep your home if you file a chapter 13 bankruptcy?
Yes, as long as you keep making the payments.
If you filed bankruptcy would your house be foreclosed on?
If you file for bankruptcy the court will be in charge of finding a fair settlement. They can require the person in bankruptcy to sell their primary residence if that is the main asset of value. The rules vary by jurisdiction. Independent of the bankruptcy the lender who has a loan secured by the property can foreclose and force the sale of the home if the payments are not made as agreed. A bankruptcy does not release the borrower from keeping up the payments on the home loan. As most loans state, if you fail to keep up with your payments your home is at risk.
Can you file bankruptcy if you own your home?
In principle, yes, but it depends on the equity in your home and how much of it you can exempt, as well as the non-exempt equity in all other assets and how much debt, income and expenses you have.
Did DR Horton home builder file for bankruptcy?
yes
Is your home seized when you file bankruptcy?
No
Can I file bankruptcy and keep my home?
If it is determined that you do not have an equity position in your home that exceeds the state statutory exemptions, you will be able to keep your home in a Chapter 7, as long as you continue to be current on your monthly mortgage payments
If you own a home can you file for bankruptcy?
Yes
If you file bankruptcy in one state and own a home in another state may you keep it?
The answer depends on the type of bankruptcy you file and the value of your home. In Chapter 7 bankruptcy, you may be required to sell the home unless it falls within certain exemption limits. In Chapter 13 bankruptcy, you can typically keep your home and create a repayment plan to catch up on missed mortgage payments. It's best to consult with a bankruptcy attorney to understand your specific situation.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Can you keep your home if you file chapter 13 bankruptcy?
yes
Can you file for chapter 7 bankruptcy if you have equity in my home?
Sure.
