I have a friend who lost her job about a year ago. She fell behind on her debts including a mortgage. She wants to keep her house. She lives in the West Virginia and her household income is from child support and unemployment. The mortgage payments are current and she is able to meet basic household expenses. The house at time of purchase $150,000, and may be worth $130,000. Has about $700 of equity. Interest 5% Purchased and lived in 2 years ago. Other debt is about $9,500. She drives an old car worth $1,000 and has basic furnishings and cloths.
Although she is college educated she has found it difficult deciphering the bankruptcy rules with regards to her home. Hiring an attorney is not an option. On a percentage basis, is she likely to lose this home by filing chapter 7? She wants a fresh start so that she can keep her house. Thanks for your response.
1 Answer from Attorneys
As long as she maintains the payments, she can keep her house. West Virginia has a $25,000.00 Homestead Exemption, and it sounds like her house would easily fall within the exemption.
Related Questions & Answers
I am divorced and being sued by my credit card company. The card is in my name but... Asked 2/16/12, 7:17 am in United States West Virginia Bankruptcy Law
My mother isn't legally incompetent, but she refuses to take medication. Can i file... Asked 8/10/10, 11:31 pm in United States West Virginia Bankruptcy Law
Bankruptcy I need help with it i can not pay full [email protected] Asked 5/03/09, 11:16 am in United States West Virginia Bankruptcy Law
Poa we live in WV and i am moving back to sd without my spouse. if i have poa can i... Asked 2/04/09, 2:33 pm in United States West Virginia Bankruptcy Law
Bankruptcy My fiance and I are separting. He wants to file bankruptcy on all his... Asked 1/27/09, 11:31 am in United States West Virginia Bankruptcy Law