Legal Question in Bankruptcy in Pennsylvania

My wife and I had a bankruptcy settled in October of 2006, All went well.

At the time we elected to keep or home and would like to continue to do so.

We went through a mortgage modification and now we're in the 3 month trial period. Our payments are more than the original mortgage. If they stay that way, there's really no way we can afford to keep it.

If it goes into forclosure, is there a way that we can't be held responsible for a balance if Bank of America sells our home for less than we owe?

Thank you & have a great day.

Joe


Asked on 1/16/12, 11:06 am

1 Answer from Attorneys
Rachel Hunter

Joe,

It depends on what kind of bankruptcy you filed, whether the house was part of your bankruptcy and whether you signed any reaffirmation agreements if it was.

My advice would be to check with your bankruptcy attorney as he/she would be most familiar with your situation.

Read more
Answered on 1/16/12, 2:46 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Pennsylvania