house equity

[floridian]

i am walking from my home as part of the bk....i had about 20k equity 2 years ago when it was appraised... now, who knows if any is left, with the current market...

anyway, will the trustee care one way or the other, about any equity in the home?

[momof3b1g]

i am walking from my home as part of the bk....i had about 20k equity 2 years ago when it was appraised... now, who knows if any is left, with the current market...

anyway, will the trustee care one way or the other, about any equity in the home?

I don't think equity matters if you are walking away from it. In our case we had to much and needed to exempt it all to not chance them taking it.

[Woah]

We are surrendering our house and believe we have some equity. We want the trustee to sell it and hope to get some money for a homestead exemption if he does.

Its my understanding if you have equity above what you exempt, or as in my case surrender a house with equity, the trustee will see if it is profitable to sell it and distribute the money to your creditors. Taking into account of course the agency fees and whatever other fees might be incurred in the sale process. The equity has to be significant enough to warrant the time, effort and expense on the part of the trustee/courts.

thats what I'm told anyway.