Posted on: 26th Aug, 2009 11:00 pm
I'll be filing Chapt. 7 BK next month and I'm going to include my house since I can't afford it anymore. How long can I stay in the house after the BK? I made my last mortgage payment in July 2009. My lender is Countrywide and I'm in California. Thanks.
Hi hferia,
If you reaffirm the mortgage and pay the mortgage dues after Chapter 7 is discharged, then the lender won't ask you to move out of the property. However, if you do not reaffirm the mortgage, then you'll have to surrender the property to the lender once your bankruptcy is discharged and leave the property.
Thanks
If you reaffirm the mortgage and pay the mortgage dues after Chapter 7 is discharged, then the lender won't ask you to move out of the property. However, if you do not reaffirm the mortgage, then you'll have to surrender the property to the lender once your bankruptcy is discharged and leave the property.
Thanks
It depends. If the house is surrendered and the mortgage debt discharged, you may be required to move out fairly soon