I am in California. Does anyone know what the requirement is for determining the value of your home when you are going to file ch. 13? Do I have to pay for an appraisal?
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Depends on your court. Most will accept a local realtor's estimate, but a few are more stringent and may ask you to use their recommended local evaluator. Right now with the rapidly falling maket, it's hard to estimate the true value of a home while the prices continue to fall nationwide.Originally posted by vleisme View Post
The one thing you DON'T want to use to value your home is your tax assessment value! These are typically higher than your home is actually worth to maximize the taxes paid.
Ask your lawyer what your local court will accept and follow that expert advice.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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