Legal Question in Bankruptcy in Pennsylvania

Bankruptcy - cash from sale of home

If you sell your home within 90 DAYS of filingbankruptcy, the bankruptcy trustee can get anorder from the court that the sale is void andthe trustee can sell the home to raise cash topay your creditors.

If you sell it to a family member within ONEYEAR of filing bankruptcy, the Trustee canget an order from the bankruptcy court declaringthe sale void then re-sell the home to raisecash to pay your creditors. The best bet toavoid loss of your home is to get a mortgagefor at least 2/3 the value of the home, then,after filing bankruptcy, enter into a reaffir-mation agreement with the mortgage holder inwhich you continue making payments as if youhad not filed bankruptcy and you get to keepyour home.

=============================================If applicable to this message: "This transmis-sion does not create an attorney-client rela-tionship. I will not be representing anyone without a written agreement signed by all par-ties and then, only in Ohio. Answers to ques-tions are for general information only and should not be construed as legal advice in any particular jurisdiction. If you need legal advice for a specific legal problem, seek the services of a knowledgable attorney in your area or locale."===============================================Where people fear the government, you have tyranny. Where the government fears the people, you have liberty. Thomas Jefferson===============================================