Chapter 7 Bankruptcy Online Course
what in the terms of a mortgage would prevent the mortgage from being included in a chapter 7 bankruptcy?
someone told me that there are certain things in the terms of a mortgage that could prevent you from including your house in a chapter 7, but of course they cannot tell me what. i will not be meeting with my lawyer again for a little bit so i can’t ask him right now and i’m worried now because i WANT to include my house. all i can find when trying to research this stuff online is how to avoid foreclosure on a house. i don’t want to avoid it. i want to get rid of my house. i cannot afford it. so, for anyone out there who knows about this stuff…what would ever prevent me from including my house in my bankruptcy?
You can include your house in a bankruptcy but that does not mean you can discharge the mortgage debt. You must pay all missed payments over a period of time and all future payments. If you can not do that, the lender will get permission from the bankruptcy court to do a normal foreclosure.
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