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can you save you home in chapter 7b?

Updated: 9/27/2023
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15y ago

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Yes, you need to reconfirm the home loan with the company that provides your mortgage and any secondary loans on the home. Your bankruptcy lawyer will ask you about that and take care of it.

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Q: Can you save you home in chapter 7b?
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Can you save your house from foreclosure?

Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.


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No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.


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If you lost the home or no longer own it you can do chapter 7 (if eligible) and have this debt eliminated. If you are still in the home and want to keep the home but reduce or eliminate the second look at a Lien strip through Chapter 13.


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As an unknown individual at the Doney & Associates law firm surmised, "there is no real Chapter 20, but we bankruptcy attorneys amuse ourselves by proving that we can add." A Chapter 20 is when you file a Chapter 13 right after a Chapter 7. One reason some people do this is because you cannot stop a home foreclosure with a Chapter 7, but you cannot file a Chapter 13 if your unsecured debt exceeds a certain dollar amount. So, if someone's home is being foreclosed but their unsecured debt amount exceeds the limit for a Chapter 13, those persons may file a Chapter 7 and wipe out the unsecured debt, then file a Chapter 13 and stop the home foreclosure. Some Courts frown on Chapter 20's since they see it as an unfair manipulation of the bankruptcy code.

Related questions

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North Carolina has very exact laws pertaining to early emancipation of a minor. Juvenile Code, Chapter 7B, Article 35, Subsections ( 7B)3500-(7B)3509. (http://www.ncga.state.nc.us)


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