Well I am thinking about filing BK. I have met with two lawyers, and my husband and I are strongly considering moving forward. My concern is my house, I don't want to lose it. The attorney thinks we should qualify for ch.7 since my husband had been out of work for 4 of last 6 months. I live in the state of delaware, just wondering what happens if we file ch7. The attorney did state home mortgage is discharged and just keep paying of it, but is there potential my home can be foreclosed on at some point?
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Only if you don't keep the loan current.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent! -
Filed chapter 7 no assset in Michigan 4 years ago. Standard exemptions covered equity in home valuation so nothing left for trustee to go after. Mortgage discharged along with huge credit card debt. Continued to pay on mortgage (stay & pay) as usual. Mortgage company advised us as long as we kept up payments, normal contract terms would apply & we keep the house. It's worked out fine, no issues.Comment
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