Legal Question in Bankruptcy in California
we filled bankruptcy and received a discharge. We are still in our home, but will be moving to a rental soon. My question is this: is there any benefit to short selling our property versus foreclosing? Our property was included in our BK.
Asked on 10/03/10, 9:40 pm
2 Answer from Attorneys
Carl Starrett
Law Offices of Carl H. Starrett II
In general, the people who benefit from a short sale are everybody but the sellers. It someone tries to tell you about how about it is to have both a bankruptcy and a foreclosure on your credit, don't believe them.
There are times when it can be beneficial. For example, owners of a condo can cut off liability for post-bankruptcy HOA dues or cut off liability for anybody injured on the empty property.
Answered on 10/09/10, 4:00 pm
Related Questions & Answers
-
How many times is a person able to file bankruptcy? Can you start a case and not... Asked 10/02/10, 2:03 pm in United States California Bankruptcy Law
-
I am planning to file for bankruptcy. I own 3plex apartment. Depends on the web... Asked 10/02/10, 8:41 am in United States California Bankruptcy Law
-
Are property assets exempt from chapter 13 bankruptcy filing and must these assets... Asked 10/01/10, 12:54 pm in United States California Bankruptcy Law
-
I have a rental home that was empty, I filed for bankruptcy, but have not had a... Asked 9/30/10, 11:06 am in United States California Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
