Loans
Mortgages
Bankruptcy Law
Money Management

Will a chapter 7 bankruptcy petitioner be allowed to keep a home if there is a 3 month arrearage in the mortgage payments?

User Avatar
Wiki User
2006-08-07 14:35:18

Two factors would detemine what if any action would be taken

concerning the property. If the homestead exemption protects the

house from bankruptcy seizure and/or if the lender is willing to

reaffirm the mortgage rather than foreclose on the property.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.