Re: CC debt lawsuit/retain home?
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Posted by LadynRed
(68.32.101.73) on September 27, 2003 at 12:49:43:
In Reply to: CC debt lawsuit/retain home? posted by Sinking in MI on September 27, 2003 at 11:34:15:
If your equity is more than the exemption, you can do 2 things - pay the Trustee the difference -redemption - or the Trustee will sell the home. If a creditor gets a lien on your home, you won't be able to sell it util the lien is satisfied. You need to get a handle on the actual equity #, it may be lower than you think. Call a RE agent and ask for a 'walk away' price, as is. It won't be nearly as high as a normal 'wait for a buyer' quote. It is ulikely that a creditor could or would force the sale of your home for a lousy 2K.
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