Does BK prevent a deficiency judgment?

[Asconde]

I am in the process of filing Chapter 7. Also, my house is in foreclosure and will be sold at a sheriff's sale. The lender is going to take a loss on the house. The sale will probably take place after the Chapter 7 discharge is completed.

Does my bankruptcy prevent me from being hit with a deficiency judgment by the mortgage holder? If not, what can I do to prevent a deficiency judgment?

Thank you for your help!

[Becky C]

Your bankruptcy attorney should be able to answer this question.

We recently went through foreclosure, and in our state, (Missouri) the homeowner cannot be sued for the deficiency.

Becky

[Printer099]

regardless of whether your state has an anti-deficinecy statute or not, if you file a Ch 7 and surrender your house, even if there is a deficiency it gets discharged in your bk. When you surrender your house the deficienecy is just an unsecured debt that is wiped out in your Chapter 7. Bankruptcy law is federal and overrides state statutes