I'll be calling my attorney this week about this, but wanted to get some initial opinions on here as well. Here's the situation: I may have an opportunity to transfer with the company I work for that would involve relocating to California and selling my house here in Minnesota.
A little background: Filed Ch.7 old laws in Sept 2005, discharged December 2005. Initially was a no asset that was converted to asset due to a preferential payment issue. Trustee agreed to settle the case for an agreed upon amount in November of 2006. For whatever reason the case is still not closed 1-1/2 years later (question #1 for the attorney is why not?). House value was listed on the BK schedules at $200,000 and actually with the current state of the market here would realistically go for a little less than that. House has a 1st mortgage not reaffirmed, and a 2nd mortgage (HELOC) that was reaffirmed. Both mortgages are with Wells Fargo. Equity in the house if it were to sell at market value is approximately $30,000, well within the exemptions for Minnesota.
So the main question is: What are the ramifications if I need to sell the house before the case is closed? Will it change the way the trustee feels about anything?
Thanks....
A little background: Filed Ch.7 old laws in Sept 2005, discharged December 2005. Initially was a no asset that was converted to asset due to a preferential payment issue. Trustee agreed to settle the case for an agreed upon amount in November of 2006. For whatever reason the case is still not closed 1-1/2 years later (question #1 for the attorney is why not?). House value was listed on the BK schedules at $200,000 and actually with the current state of the market here would realistically go for a little less than that. House has a 1st mortgage not reaffirmed, and a 2nd mortgage (HELOC) that was reaffirmed. Both mortgages are with Wells Fargo. Equity in the house if it were to sell at market value is approximately $30,000, well within the exemptions for Minnesota.
So the main question is: What are the ramifications if I need to sell the house before the case is closed? Will it change the way the trustee feels about anything?
Thanks....
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