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What is collatera?

Updated: 12/18/2022

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How can you save your house if it was used as collatera o a business that is in default and you are filling bankruptcy?

Talk to a local experienced bankruptcy lawyer. If there is equity in the house after deducting the payoff on the first mortgage and any priority liens, you should not have a problem. If there is equity, it gets more complicated, but you may be able to keep the house with a Chapter 13.

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