House security

[invest1choice]

Hey guys I was on the wesite site for SC state bankruptcy court.

http://www.scb.uscourts.gov/

that brings you to pacer which I am unclear on what help this is and what info it shows and is it worth paying for? But my question is when you click on left handside Sale Notices you can see dockets from trustees asking permision to sell peoples homes? some of them is the debtor asking permission though. The trustees doing this making so little profit for creditors on one of them . what is the chance of this happening? It is so scary as BK is already. I am really trying to keep my house we owe like 119,000 and it appraised at 126,000 last Oct , after seeing this I am worried ,,can someone clarify this if they know and what they think? thanks so much guys

[StaciMM]

I found this when I looked up SC exemptions:

"Real property, including co-op, to $5000 (joint owners may double)"

Even if you didn't file joint, you're probably ok. If they were to sell the house for $126,000, pay off the mortgage & pay you your $5,000 exemption amount, the remaining $2,000 wouldn't even cover the closing costs. If it was worth more or you owed less, there might be issues.

If you filed joint, you're certainly in the clear as you would be allowed $10,000 equity and only have $7,000.