when filing bankruptcy, chapter 7, do you have to include our home? we just finished working with our bank after 3 yrs and everything is fine now...
we owe more than the house is worth...
1 Answer from Attorneys
Yes, the house is included, as all assets and liabilities are listed in the petition. However, if you are current on the mortgage, the bankruptcy itself won't trigger any form or default. If you walk away from the house and it goes into foreclosure, you can discharge the deficiency balance in a bankruptcy. If you would like to discuss further, please email me at [email protected]
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