Keeping your home through the bankruptcy process:
If I am current on my payments, can I keep my home?
Normally, yes. As long as you are current on your home obligations (mortgage, taxes, dues, etc.), your secured lenders cannot take your home just because you filed bankruptcy. The only other issue is the court looking to your home for equity to pay creditors.
For most people, this is not a problem.
The law provides for a generous allowance of equity before the court would look to it to benefit your creditors. In most cases, the allowed equity can be as high as $125,000.00 after a deduction for costs of sale. One tip: if you are worried about the amount of equity in your home, get a fair market analysis done before your file bankruptcy. Do not trust the County Assessor to be right.
If I'm behind on my payments, what can I do to keep my home?
First, Chapter 13 bankruptcy allows you to catch up your payments over a three-year period. Second, Chapter 7 bankruptcy
allows you the protection of the court for a short time period to catch up on your payments or make arrangements with the bank.
Finally, remember that you can always attempt to refinance your home once the bankruptcy is over. And most of all, do not give up hope. Talk to a knowledgeable Seattle home bankruptcy lawyer at Sno-Isle Bankruptcy and discover the alternatives.
Most of us do not have much of a choice when it comes to driving. We have to drive in order to make a living and be able to go about our daily lives. And because we live in such a mobile world, it is no wonder that automobiles are one of the biggest concerns people considering bankruptcy usually have.
we understand how important your car is to you and the questions that you have about the bankruptcy process. We can provide you with answers to these questions and we can help you to get started back on the road to financial freedom from the moment you contact us