homes in BK in texas etc.

Posted by catballou (207.43.76.107) on March 08, 2004 at 00:17:06:

In Reply to: Book on Bk posted by J Kelly on March 07, 2004 at 23:19:53:

this is a 25 year old 'farmers home' house..1100 sq feet. in texas you cant have 2 mortages..nor any for more than 80% of the value. so i dont see what kind of lien they think they can do. also it is homesteaded..shrug* they still think they can..who knows. we almost lost it in the BK cause the lawyer..judge..and citibank was stupid. it went into constant foreclosure..a month to month tenancy..it was a huge mess. thats why i think people need lawyers for BK. when a judge doesnt sign off on a BK when a company thinks it should..it will foreclose on it. our lawyer said it didnt need to be reaffirmed cause of the exemptions in texas...WRONG. huge mess. took me 3 years to straighten it all out. 60k in dfw would be a shack. 60k here is a nice house..ours isnt worth close to that. regardless..things arent as easy as it sounds in paper. man, did i learn that the hard way!

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