Bankruptcy Forum

Foreclosure Question

Minnymouth
04-19-2005, 06:30 AM
Minnymouth, Ky here,
Chapter 7 case where Trustee took MH (bad title) and Bank has land only. Both were supposed to be together.
Bank has to be forced to foreclose on property - note on land is value of house and land - not just land.
Legally I still own the land and had to stop paying on it.
Iff i kept paying for it I would be paying for some "very expensive land"(with no home on it).
I'm sure your familar with my case in the Chapter 7 threads.

Question - when refering to foreclosure what is equity exemption? Also how long does foreclosure take?

Someone told me that if I lost my home they are supposed to pay me so much for my equity expemtion???

I filed in June/2004.
I was discharged in October/2004.
Adversary proceedings were terminated/case closed in January/2005

Does the information above mean my case is over except for the foreclosure from the bank?

Thanks for the help all these months!! :D

HRx
04-21-2005, 08:12 AM
Thanks for the help all these months!! :D

Good Luck! :)