2007-01-10 08:40:41 · 8 answers · asked by david b 1 in Business & Finance ➔ Credit
No your house is protected in bankrupcy court, unless you do not pay your mortgage or water bill.
2007-01-10 08:49:33 · answer #1 · answered by Kdude 4 · 0⤊ 0⤋
No - its not absolute that you will lose your house. You can make choices at the time of bankruptcy on keeping some debts. Like your house, or a vehicle, or maybe a debt that has something to do with a friend (like they work there and got your the credit) and you want to pay that debt off. You just have to be able to make the payments on the debt you choose to keep.
2007-01-10 16:51:56 · answer #2 · answered by Just Me 6 · 0⤊ 0⤋
You almost never lose your house if you file bankruptcy actually. You can choose to exclude that debt from the bankruptcy. If, however, you are including that debt you will lose the house.
2007-01-10 16:46:09 · answer #3 · answered by flamingojohn 4 · 1⤊ 0⤋
You need to talk to a lawyer as each case varies. Some do and some don't. Judges are hard pressed to NOT push hard working Americans out of their homes. Banks are reluctant to repo houses.
If you want it bad enough, you can negotiate a deal thru your lawyer that will probably result in you keeping your house.
Good luck.
2007-01-10 16:49:29 · answer #4 · answered by Jeremy M 3 · 0⤊ 0⤋
No. Keep up the payments and reaffrim the debt.
Many states have full or partial homestead exemptions, which means you can still go through Chapter Seven and protect you house from creditors. You still have to pay the mortgage.
2007-01-10 16:47:09 · answer #5 · answered by jbowler 3 · 0⤊ 0⤋
No. With a Chapter 7, you can reaffirm it. Otherwise, you lose it in most cases. In Chapter 13, you will keep it as long as you abide by your payment plan.
2007-01-10 16:45:29 · answer #6 · answered by rogers_andrew 3 · 0⤊ 0⤋
Never.
You just won't have a good credit rating
2007-01-12 16:49:29 · answer #7 · answered by Mark S 1 · 0⤊ 0⤋
in most cases yes
2007-01-10 16:46:41 · answer #8 · answered by Anonymous · 0⤊ 1⤋