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If I file chapter 7 can I keep my house if I have no equity in the home?
Posted on January 2nd, 2009 3 comments
ca97hunt asked:
The home is in both names (spouse and myself) but the loans are in my wife’s name. My 1st and 2nd mortgages together eqauls the value of the home.
RUDOLPH3 responses to “If I file chapter 7 can I keep my house if I have no equity in the home?”
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I do believe so. You get to keep one house, one car, etc. They make it so you can still live. Of course it may depend on your situation too but I am 99% sure you should be able to keep your house.
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DLeibowitz January 5th, 2009 at 17:03
It seems likely that a trustee would not seek to administer property in which you have no equity. Property not administered by the trustee is abandoned to the debtor.
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rallman@sbcglobal.net January 9th, 2009 at 03:59
Still have to make those house payments
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j_bones82 January 3rd, 2009 at 20:00