Legal Question in Bankruptcy in Pennsylvania

Pending sherriff sale ( real estate)

I am about to lose my house in

philadelphia , pa . I owe alot $290,000 , i also have a home eq. Loan of $10,000 . All in default. All of my utilities are behind in payments . I am also

in the middle of contract to

sell some profitable real- estate but the deal is stalled --

by bureaucracy -- what shall i do.


Asked on 7/11/07, 11:03 am

3 Answers from Attorneys

John Gibson John W. Gibson, Esquire

Re: Pending sherriff sale ( real estate)

It isn't possible to advise you without knowing your present situation. If there hasn't been a foreclosure action filed against you as yet, you are probably best off contacting the bank holding your mortgage and the utility companies and seeing if you can work things out. If your home is about to be sold at Sheriff's Sale, though, you may want to consider a Chapter 13 Bankruptcy where you will have to fully inform the court of your financial condition and where the profitable real estate proceeds will be part of your estate in bankruptcy.

Read more
Answered on 7/15/07, 2:16 pm
Glenn Brown Real World Law, P.C.

Re: Pending sherriff sale ( real estate)

Without a full look at your situation I can't answer your question.

However you may still have options.

You may contact my office for an affordable consultation.

Good luck to you.

Read more
Answered on 7/11/07, 11:24 am
Matthew Nahrgang Nahrgang & Associates, P.C.

Re: Pending sherriff sale ( real estate)

If you have not filed a bankruptcy before, Chapter 13 will stop the sale pending the sale of your other real estate. One of the questions is whether there is any equity in your home. If so, that will be helpful. If not, and you cannot make monthly payments, the bankruptcy may only delay things.

The only way to truly advise you is to find out more facts. To that end, you should contact experienced counsel ASAP.

I trust this answers your question but feel free to call or E-mail me on a free initial basis.

Read more
Answered on 7/16/07, 9:55 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Pennsylvania