2007-11-21 13:43:59 · 5 answers · asked by rhonda w 1 in Business & Finance ➔ Credit
A home is not protected. With a bankruptcy, expect to loose all your known assests aside from a 401k or a individual retirment investment account.
2007-11-21 13:49:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There is no benefit.
Remember, home equity loans are a secured debt, which gives them a priority status. They do not excuse a portion of the debt the way they do with credit card debts. You either have to reaffirm the loan (pay it back) or you lose your home.
2007-11-22 12:05:19 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The more equity a home has, the more likely you will lose it in a chapter 7. If you file chapter 13, you usually keep your house anyway.
2007-11-21 21:51:57 · answer #3 · answered by First Lady 7 · 0⤊ 0⤋
You won't lose your home at all... go to google.com and type in legalhelpers.. This website is great and will answer all of your questions and ease your mind tremendously.. good luck
2007-11-25 15:25:29 · answer #4 · answered by Lea 4 · 0⤊ 0⤋
nope
2007-11-21 21:51:17 · answer #5 · answered by tankeratheart 3 · 0⤊ 0⤋