Posted on: 21st Aug, 2010 04:01 pm
i transferred my home into an llc in nevada in 2002. 3 mos later i was sued for a commercial lease i signed for over $200,000. this is hanging over my head, and has accrued interest...don't know how much. I want to file chapter 7 and keep my home, which does have equity in the amount of $300,000..home worth under $600,00. I also owe over $60,000 in cc debt. Can this be handled without losing my home?
Welcome bonniebradley,
If you file Chapter 7 and include your mortgage and property in it, then you would have to sign a debt reaffirmation agreement with the lender and pay off the mortgage dues on time. This will help you in saving the property.
If you file Chapter 7 and include your mortgage and property in it, then you would have to sign a debt reaffirmation agreement with the lender and pay off the mortgage dues on time. This will help you in saving the property.