Would any debts incurred due to negative equity be wiped after discharge?
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Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010
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Any deficiency balance due as a result of the Foreclosure sale becomes Unsecured Debt and can be discharged in BK.
Generally speaking,.......... With Foreclosures,............ Any back taxes, HOA dues, needed repairs, etc, become the responsibility of the Buyer at the Foreclosure sale.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen... -
Thanks just gathering info so I can file sometime next year. I made my last mortgage payment last month.Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010Comment
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