Re: Mortgage question
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Posted by JKelly
(22.214.171.124) on June 05, 2004 at 14:47:45:
In Reply to: Mortgage question posted by Mortgage info on June 05, 2004 at 14:14:36:
You have to consider auction price of your house. Not market value. Two mortgages must be satisfied before anything goes to the credior, and there are expenses to the creditor in obtaining a judgement and executing. So, you might meet the exemption. Best thing to do is get a free consultation with a bk attorney in your area. Actually, I would get more than one consultation. I would not recommend that you you borrow money from a friend to protect you home. If the bk trustee picks up on this your bk will be dismissed. They look for things like that.
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