Legal Question in Bankruptcy in New York
home
While in chapter 13, is it possible to sell my home,pay off my mortgage, home equity loan & the balance of my indebtedness to the trustee & buy a new home and assume a small mortgage. If possible, what are the steps necessary to initiate this proceeding?
Asked on 5/15/03, 1:34 am
1 Answer from Attorneys
Lance Spodek
Lance Roger Spodek, P.C.
Re: home
Yes, possible. You must discuss with the Chapter 13 Trustee as he must consent. Also if your case is less than a 100% plan you may have to make an additional payment to creditors.
Answered on 5/15/03, 8:45 am
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