I was wondering what would be the best path for me. Since I am nearing 60 days late on some of my bills I probably shouldn't be worried about buying a new house at this time...I probably wouldn't qualify anyway since my debt/income ratio is pretty high. What are the chances that once I get established in my Chapter 13 plan I can sell my current home and purchase another one? Any help would be appreciated.
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You can't sell any asset of your bankruptcy estate without prior permission from your trustee. And even if you get permission, finding a lender who will loan you money for a new home while you're in an active Ch 13 is almost impossible.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go
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