Chapter 7 and Mortgage
Can judge deny me keeping a home I can't afford myself while BK credit card debt? My income is awful this last year and half so i know I can show hardship, just concerned he can find my home to be something I don't need. let me know. Thanks.
Also, my home has no equity but only asset with any value would
Also, my home has no equity but only asset with any value would be my car that i don't have a loan on. just concerned with my home being such a large mortgage payment whether they can argue that I shouldn't be keeping it. my credit card debt is three cards with about $50,000 each which is also large making me concerned as well.
It is to my belief that if there is no equity in the house, you'
It is to my belief that if there is no equity in the house, you'll be alright. They will probably want some kind of proof of "no equity" by either an appraisal or having a Realtor do a comparative market analysis. If it is found that there actually is equity in the house, it could make a difference in who's name the house is titled under. If it's titled in all 3 names, you would only have a third of the interest, which possibly could help. I don't think the large mortgage payment should matter, but am not certain. The information I gave you is what I have heard, but hopefully some one else can verify.