keeping your house

[lilkim]

our land is tied up with our mortgage payment, i guess what i am trying to say is as long as we are current on our payment can they try to take some of our land from us to payback any dept listed in our bk? we have 19.5 acres that is tied up with our double wide payment. i was wondering if they can try to take just our land if it is in with the home payment?? please advise, i am very scared of this happening...

[HHM]

This question needs to be addressed to a local attorney in your area. It really depends on how homesteading and homestead exemptions work in your state, how the land is titled and the original mortgage contract.

There are too many variables in order for anyone on this forum to really address your issue.

[lilkim]

okay, thanks for your help hhm i really appreciate it!!!

[HHM]

Well, to answer one of your questions, if you are current on the payments, the mortgage company will not try to take your property; your issue is whether the Chapter 7 trustee can seperate the Mobile Home from the Land and take the Land to pay back creditors. My instinct says no, but I really don't have any solid advice to give you except what I already said above.

[lilkim]

yeah that makes sense, i will ask my lawyer about that, i am still making payments to him to get the bk started, so i haven't really filed yet, but hope to have him paid off next week, i am so ready to get this started and over with..