Legal Question in Bankruptcy in New Jersey

Need advise to save my fathers house.

My Mother filed for bankruptcy I think 2-3 years ago. The lawyer she went to, put the house My Father and I lived in up for sale March of 2007. SHE DOSEN�T EVEN LIVE THERE!

My father got notices but he�s very old school and stubborn about these types of things. So he just threw them out I guess� I never saw them.

3 people are on the deed My Father, Mother, and Grandmother. I guess the lawyer sent notices to them and the mortgage company that the house was going to be sold cause of bankruptcy. Nobody replied and therefore the house when up for sale by default.

It just so happens that my parents had a �Balloon Mortgage� and it was coming time for them to refinance in April 2007. $120,000 was owed on the house at the time.

So my father being �Old School & Stubborn� stopped paying the mortgage payments.

I guess his plan was wait until the house sells then pay off the house and whatever the bankruptcy debt (a lousy $15,000) all this nonsense is for $15,000. But now the lawyer keeps dropping the price of the house because he wants his $15,000. House was appraised at $300,000. It�s up for sale at $150,000. My father will get no money from it.

So my question is how do I save this house?


Asked on 12/30/07, 10:21 pm

1 Answer from Attorneys
Stephen Starr Starr & Starr, PLLC

Re: Need advise to save my fathers house.

This topic is too complicated to answer on these type of "general interest" boards. You/your father need to hire a lawyer for a consultation and have them review the papers that have been filed in the your mother's bankruptcy case and advise you of your rights and remedies.

If you don't know a bankruptcy lawyer in your area contact the legal referral service of your local "Bar Association" (check the phonebook or directory assistance for this).

For general information regarding bankruptcy please visit the Frequently Asked Questions (FAQs) on our website at www.starrandstarr.com/faqs.htm and the downloadable articles at http://www.starrandstarr.com/publications.htm

Good luck,

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Answered on 12/31/07, 9:52 am


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