Ask Experts Questions for FREE Help !
Ask
    57fisher's Avatar
    57fisher Posts: 1, Reputation: 1
    New Member
     
    #1

    May 11, 2008, 10:16 AM
    Will filing bankruptcy payoff my mortgage and small business loan which also have a lien on my home?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    May 11, 2008, 11:12 AM
    I am assuming this was a new question, I have moved it to its own thread, if you have a question, this is not a blog, you need to start and ask a new question, not add your question as a answer to someone else's question.

    If you file bankruptcy, the mortgage of your home or other lien is not paid off unless you give that property to the court to be sold.

    If you let the court take your business and your mortgage and sell them, then yes all of those debts will be discharged.

    If you want to keep your home you have to re-affirm that debt and not only keep paying it, but you have to bring it current

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Coporate Bankrutpcy [ 1 Answers ]

How can I discover bankrupt electric power plants?


View more questions Search