California  |  Bankruptcy

Legal Question

Asked on: 1/20/08, 10:17 pm


I own 5 properties (4 rentals) including my primary home. Can I file chapter 7 on one of the properties I'm behind on the payments and wish to foreclose if the current ''short sale'' does not work?

1 Answer

Answered on: 1/21/08, 3:14 am by Robert F. Cohen

Re: Bankruptcy

You are required to list -all- of your assets and all of your debts. If you file a chapter 7 and you have equity in the other properties, you might face a BK trustee's sale to satisfy your other debts. You should consult with an attorney to evaluate your situation.

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