Posted on: 13th Jan, 2010 03:17 pm
Individual filed chapter 13, but the cosigner to a home did not. Would all the profit from the sale of the house be turned over to the trustee.
If your name yet mentioned on property deed then, you can get some amount from sales profit. Other viz if co signer has paid off this property then profit will going to in his favor.
Thanks.
Thanks.
hi emma,
in bankruptcy chapter 13, the debtor does not have to sell the home to satisfy the mortgage debt. he can pay off the loan through a chapter 13 repayment plan. thus, if the individual has listed his home in chapter 13 bankruptcy plan, it does not mean the house will be sold to satisfy the mortgage lien. if he makes payment as per repayment plan, the house will remain safe.
in bankruptcy chapter 13, the debtor does not have to sell the home to satisfy the mortgage debt. he can pay off the loan through a chapter 13 repayment plan. thus, if the individual has listed his home in chapter 13 bankruptcy plan, it does not mean the house will be sold to satisfy the mortgage lien. if he makes payment as per repayment plan, the house will remain safe.
