Legal Question in Bankruptcy in Pennsylvania

old bankruptcy law

i'm currently going through a divorce, and house was under chapter 7 under old law, no reaffirmation agreement. can i just walk away from home, and let it foreclose, without being responsible for balance?


Asked on 7/14/07, 8:24 am

1 Answer from Attorneys
John Gibson John W. Gibson, Esquire

Re: old bankruptcy law

No. The deficiency on the mortgage would be a post-petition debt. However, deficiency judgments in Pennsylvania are not easy to obtain and most mortgage companies and banks would prefer to take a Deed in lieu of foreclosure. So what you want to do is contact the bank or mortgage company and tell them that you and your ex want to deed over the house.

Read more
Answered on 7/15/07, 1:02 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Pennsylvania