Posted on: 21st May, 2009 05:22 am
We own a mobile home in Florida and are retired. We will be filing for bankruptcy soon and are concerned they will take our home away as part of a $38,000 credit card debt settlement.
They have authority to take your home as you are not able to pay .
But certainly you have to read deed carefully so that you will get any clue for saving your home.
But certainly you have to read deed carefully so that you will get any clue for saving your home.
hi whazzup!
welcome to forums!
are you including the mortgage for the mobile home in your bankruptcy filing? the bankruptcy trustee has the right to take away the property and sell it off to pay the creditors. you will have to contact your bankruptcy attorney and discuss your options.
if you file chapter 13 bankruptcy and include the mortgage, the lender will give you a 3-5 year payment plan to pay off the dues. once you pay them off, your bankruptcy will be discharged. if you file chapter 7 bankruptcy, you'll have to reaffirm the debts to save the property.
feel free to ask if you have further queries.
sussane
welcome to forums!
are you including the mortgage for the mobile home in your bankruptcy filing? the bankruptcy trustee has the right to take away the property and sell it off to pay the creditors. you will have to contact your bankruptcy attorney and discuss your options.
if you file chapter 13 bankruptcy and include the mortgage, the lender will give you a 3-5 year payment plan to pay off the dues. once you pay them off, your bankruptcy will be discharged. if you file chapter 7 bankruptcy, you'll have to reaffirm the debts to save the property.
feel free to ask if you have further queries.
sussane