Legal Question in Bankruptcy in California

my primary home was foreclosed and just sold. I have my parents house rented. Can I move back in and declare my parents house as my primary residence? I was told I can't have a rental and file for bankruptcy. Since I no longer have a house how would or could I keep this house. The mortgage is current and paid on time. I have no place to live if I lose this house and I don't know if I'll have to file bankruptcy or not at this time.


Asked on 7/20/10, 5:41 pm

1 Answer from Attorneys
Brian D. Lerner Law Offices of Brian D. Lerner, A Professional Corporation

Hello:

You can have a rental and declare bankruptcy. The issue is whether they will take the property to satisfy the creditors claims. However, if it does become your primary residence, then you could claim the homestead exemption. Please contact me for further details.

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Answered on 7/22/10, 8:16 am


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