Legal Question in Bankruptcy in Florida
I need to file bankruptcy to erase my past and begin new; I am also facing a foreclosure; how do I save my house? Chapter 7 or 13. Ideally chapter 7; but will they take my house?
Asked on 9/27/09, 7:06 pm
1 Answer from Attorneys
Stephen Berlinsky
The Berlinsky Law Firm, PA
If you are not current on your mortgage, a Chapter 7 filing will not save your home. In Chapter 13 you have the opportunity to bring the first mortgage current over a five year term. In the event there are two mortgages and the home is worth less than the first mortgage balance, in chapter 13 you can strip the lien of the 2nd mortgage from the home.
Answered on 9/27/09, 11:52 pm
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