top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Home now an asset?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Home now an asset?

    Hi everyone, so we had our mortgage discharged thru ch 7 last year, and recently got to thinking this question: since the house debt is no longer a liability, and the house is worth something, would the value of our house be considered as an asset?
    Thanks for everyone's opinion in advance!!
    Filed Ch 7. Jan 14th 2011. 341 Feb. 24th 2011. DISCHARGED April 26th 2011. Closed May 10th, 2011. Huge weight off our shoulders! Scores as of 5/14/11 : TU-639, EQ-642, EXP-602

    #2
    No, it would not. The debt was discharged. Not the lien.

    Comment


      #3
      and. . . if you do not service the lien (pay the mortgage debt) eventually the lender will foreclose.

      Des.

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X