Legal Question in Bankruptcy in New York

Back in February, I claimed bankruptcy. I own a double wide mobile home, and wasn't advised by my attorney at that time that my house was worth 1/2 of what I owed. I bought the house for $42,000.00 and later on took out a business loan for $55,000.00. As everyone knows, mobile homes deteriorate rather quickly. I guess at the time of my bankruptcy I wasn't thinking about this. Now that my head is clear I realized that the house will be long gone while I still have the loan. I guess my question is, is there a way to amend the bankruptcy to include the house? If not, what repercussions are my facing by just walking away from the house?

Thank you,

Chris


Asked on 5/22/10, 6:34 am

1 Answer from Attorneys
Carol Brent Brent Law Firm, PC

You need to ask your bankruptcy attorney if you signed a reaffirmation agreement. If you did then you will still owe the money on the mobile home. The petition should have included the house and the loan on the petition. You need to talk to your attorney right away.

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Answered on 5/28/10, 5:33 am


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