Legal Question in Bankruptcy in California

forecloseure

i own two houses one i live in and one i rent...the rental one is going to be foreclosed can i file bankrupcty on that one and still keep the one i live in


Asked on 3/10/08, 9:13 pm

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: forecloseure

If you're asking whether you can discharge the debts owed on the rental property, the answer is yes. Whether you can keep the one you still live in depends on a number of factors, including the amount of equity in the property, the exemptions you have available, and, of course, whether you can maintain the mortgage payments.

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Answered on 3/10/08, 9:21 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: forecloseure

It depends whether you're current on your residential property, whether you have a lot of equity in the house, etc. Have an attorney review your finances before you take the plunge.

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Answered on 3/10/08, 9:31 pm


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