Posted on: 14th Sep, 2010 06:16 pm
im doing a chapter 7 and putting my house on it. why is the trustee asking can i turn in my keys to them instead of the mortgage company? and why they ask for the house to get appraised im surrendering that home on chapter7?
Hi Guest,
I guess you're not reaffirming the mortgage. In that case, you can surrender the property to the trustee who can sell it off to pay off your creditors. If a property appraisal is done, you as well as the trustee will come to know about the exact property value which will help the trustee in quoting the price for the property sale.
Thanks
I guess you're not reaffirming the mortgage. In that case, you can surrender the property to the trustee who can sell it off to pay off your creditors. If a property appraisal is done, you as well as the trustee will come to know about the exact property value which will help the trustee in quoting the price for the property sale.
Thanks