I need to declare bankruptcy, I am worried about my house, my mortgage payment is 1677, do you think that I can keep my house? We have limited income as both me any my wife are disabled.
bankruptcy and the impact on a house.
posted by Questions @
1 Expert Comment:
At November 4, 2009 |
8:49 am
, Bart Goth, Trustee in Bankruptcy Said...
It is not so much the payment that is important, but the amount of equity within the house. If there is less than $40,000 equity in the property and you are living within it, then you shouldn’t have any problems. However, if you have greater than the $40,000 equity mark then you can expect that a bankruptcy will have an impact on the property.
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