Tag archive for ‘letting go of a home in bankruptcy’
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 1 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast.
You need to file for bankruptcy.
Let me say it again for those of you who are still shaking your head.
YOU NEED to file for bankruptcy!
There, I gave you a little emphasis to Read more>>
Jointly Owned Property May Be Subject To Forced Sale In Bankruptcy
by Richard Stokan on 2/15/10 | 1 Comment(s)
It is not unusual for debtors, specifically married debtors who file for bankruptcy protection separately, to co-own property. If you co-own property and intend to file for bankruptcy, you need to be aware that the trustee has the authority to force a sale of the entire asset including the co-owner(s) interest. See 11 USC 363(h). Read more>>
Bankruptcy Forms: The Statement of Intention
by Richard Stokan on 12/07/09 | 0 Comment(s)
When filing for bankruptcy, a debtor is required to file a Statement of Intention specifying whether the debtor intends to retain or surrender property. For example, the debtor will specify whether a home or car will be kept after bankruptcy or surrendered back to the lender.
A copy of the statement must be served on all Read more>>
The difficult decision of whether to keep an undervalued home.
by John C. Colwell on 11/18/09 | 1 Comment(s)
Attorney John C. Colwell counsels that the decision of whether and when to give up an undervalued home, should only be undertaken after speaking with a bankruptcy attorney first.
Homeowners Association Dues and Foreclosure
by Jay Jump on 10/16/09 | 1 Comment(s)
One of the many things we advise clients about when they come in to see us is whether or not they should walk away from their home. Often we get client’s who are underwater with negative equity or their Adjustable Rate Mortgage is going to increase drastically and the monthly payment will no longer be Read more>>
