If I sell my house after a chapter 7 and pay off my 1st mortgage, and there

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If I sell my house after a chapter 7 and pay off my 1st mortgage, and there

If I sell my house after a chapter 7 and pay off my 1st mortgage, and there is some equity left, but not enough to pay off heloc. What happens to the little bit of positive equity? Neither loan was reaffirmed.

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Anonymous (not verified)
7-06-2011

1 Answers

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If the lender incurs a profit from the sale of the property, then as far as I know, he will give you back the extra money after his own debts are recovered. You can use the excess amount to pay off your other debts.

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adonis | Asked on 2012-02-24

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