QUESTION
Can I sell my house if my bankruptcy was discharged a year and a half ago?
Asked on Apr 21st, 2013 on Bankruptcy - Michigan
More details to this question:
I didn't reaffirm my house but I have been making my house payment on time since then. Who will get the profit on the house?
14 ANSWERS
You, most likely will receive any profit after paying the mortgage.
Answered on Apr 30th, 2013 at 12:43 AM
Richard hirsh
Under the facts you describe you can sell your home and you would be entitled to keep the proceeds. I am assuming your bankruptcy case was not only discharged but that there was a no asset finding and your home was scheduled as an asset.
Answered on Apr 23rd, 2013 at 2:11 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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You own the house. After paying the mortgage lien you get the proceeds.
Answered on Apr 22nd, 2013 at 11:54 PM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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You will get the profit it's your house.
Answered on Apr 22nd, 2013 at 11:14 PM
Chapter 13 Bankruptcy Attorney serving Bloomington, MN
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Gregory J. Wald
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If you exempted your house in your bankruptcy, you can sell the house and keep the profit. If you owe more on the house than it is worth, you would need to surrender it to the mortgage company or arrange for a short sale.
Answered on Apr 22nd, 2013 at 1:08 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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Yes.
Answered on Apr 22nd, 2013 at 1:08 PM
2 Awards
Your home is an exempt asset. You can sell your home so long as your case is closed. If it has not been closed yet, you may need the trustee to abandon the house so escrow can close.
Answered on Apr 22nd, 2013 at 1:08 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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It depends on if your bankruptcy has been closed. Please talk to your bankruptcy attorney.
Answered on Apr 22nd, 2013 at 1:02 PM
Bankruptcy Attorney serving Dallas, TX
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Polk & Associates
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Yes, you can sell your house. If the case is closed and the trustee is not holding it open with a claim on the house, then the answer to your question "who gets the profit" is that after the closing happens, and all of the lienholders / mortgages / taxes / etc are paid, and there is money left over, then that "profit" goes to you.
Answered on Apr 22nd, 2013 at 1:02 PM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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Yes, you can sell your home. All existing liens will be paid first (mortgage included) and any profit over and above the liens and the fees for selling the home will come to the owner (you).
Answered on Apr 22nd, 2013 at 1:01 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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I would have to understand the totality of the circumstances as it is impossible to form an opinion of the facts provided.
Answered on Apr 22nd, 2013 at 1:00 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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Yes, you can sell your house and you should be able to keep any profits on the sale of the property (after paying all liens (deeds of trust , tax liens, property tax liens, etc.).
Answered on Apr 22nd, 2013 at 12:55 PM
Deborah F. Bowinski
As long as your bankruptcy case has been closed at court, and as long as the value is greater than the mortgage loan balance(s), you will be able to sell your home.
Answered on Apr 22nd, 2013 at 12:55 PM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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You will receive the profit.
Answered on Apr 22nd, 2013 at 12:54 PM