Can I include house in Chapter 7 and walk away???

Guest

typically, how long after the discharge of bankruptcy will the notice to vacate arrive? and how much time do you get to vacate?

smithsussane · Posted: Sun Jul 05, 2009 9:12 pm Post subject:

Hi eileen!

Welcome to forums!

After getting discharged from Chapter 7 bankruptcy, you can either surrender the property and walk away from it or you can reaffirm the debts and pay it off to save the property. Once you're discharged of your Chapter 7 bankruptcy, you're not personally liable for the mortgage. You can inform the lender and leave the property immediately after your chapter 7 bankruptcy is discharged.

Feel free to ask if you've further queries.

Sussane

Guest

i received notice of default on my property which means i have up to july 24 but i file chapter 7 bankruptcy. can the lender still foreclose my property?

Guest

How many automobiles can you have after you file bankruptcy? I read somewhere where you could only have one?

jameshogg · Posted: Wed Jul 08, 2009 9:22 pm Post subject:

Hi,

To alfred,

Just filing a bankruptcy won't help you in saving your property from foreclosure. If your bankruptcy is approved by the court, then the court will issue an automatic stay and the lenders won't be able to collect their dues or sue you for the payments.

To Angie,

As far as I know, after filing bankruptcy, you would be able to keep only one automobile.

Thanks

Posted: Fri Oct 30, 2009 12:10 pm Post subject:

IN california if your house in in the foreclosure proscess and you are going to file chapter 7 can you stay in the house untill the BK is discharged ?

Niicss · Posted: Mon Nov 02, 2009 2:22 am Post subject:

Once you file Chapter 7 and it is approved by the court, then the lender would stop the foreclosure action against you. You will be able to save the property if you reaffirm the debt and pay off the dues. If you can get rid of the property after bankruptcy discharge, then you can surrender it to the lender without reaffirming it.

Guest

Hi:
It is possible to apply for chapter 7, keep my house with the first mortgage current and get the second mortgage discharged with the credit cards debts? i do not know what to do....i owe 80000 to first mortgage, 80000 to the second mortgage and the current value of my house is only 66000 (value on the tax proposal for 2009). i am unemployed and i have been paying my primarly mortgage and i sttoped paying my second because i cant afford it. I also paying HOA which is so expensive. so i do not know if a should just fiel for chapter 7 and let the condo go or i do have any chance to keep the property but paying just the first mortgage. also i wsnt to add that my second mortgage was with WAMU who broke last year and i do not what are they going to do. thanks

smithsussane · Posted: Tue Nov 03, 2009 11:20 pm Post subject:

Hi chaqui!

Your query has been answered in the given page:
http://www.mortgagefit.com/inprocess/about30188.html#132354

Take a look at it. I hope it will help you.

Sussane

Guest

DO THEY GIVE YOU TIME TO MOVE OUT BEFORE THEY SEND IN THE POLICE TO KICK YOU OUT

Guest

Do you have to move out once your are charpter 7 is discharge or can you wait till they send you a letter to forclose. Do you have to keep home owners insurance on the house also. I live in Illinois and went to court in august still waiting for the discharge and we put our hom and 2nd mortgage in the filing also, but winter is coming and we live in the woods without someone in this house the pipes will feeze and our sump pump runs non stop, we just would rather move in the spring but people are telling me I have to move out after being discharge, and I was advised they still have to forclose before you get kick out

jameshogg · Posted: Wed Nov 04, 2009 9:14 pm Post subject:

Hi bROMRANCH,

Your query has been replied to in the given page:
http://www.mortgagefit.com/illinois/chapter7-leavehome.html

Please take a look at it. Hope it helps you.

Thanks

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