Legal Question in Bankruptcy in Ohio
Will I lose my home if I file bankruptcy
I am questioning whether or not my parents (both
senior citizens and collecting social security)
would lose their mobile home if they filed for
bankruptcy. They do not own this mobile home outright. They are still making payments on it.
Asked on 2/16/00, 7:13 pm
1 Answer from Attorneys
Ernest Ducey
Ducey & Riewaldt
Re: Will I lose my home if I file bankruptcy
If the equity of the mobile home is less than $10,000, then they will not lose the home in bankruptcy in the State of Ohio.
Equity = Present Value - Loan.
This is assuming the they do not own the land that it is parked on.
Answered on 3/20/00, 7:35 pm
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