QUESTION

Can I still live in a home that the owner filed bankruptcy on?

Asked on Jun 11th, 2011 on Bankruptcy - Georgia
More details to this question:
Can I still live in a mobile home that the owner filed bankruptcy for if I make the mortgage payments? The landlord filed a chapter 13. The lawyer said she had to either let car or mobile home go back she chose the home. Can I still live there if I make the payments and have them not retrieve it?
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4 ANSWERS

Bankruptcy Attorney serving Herndon, VA at Maureen O'Malley
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Doubtful, unless you buy it from her. If you make the mortgage payments to the creditor, it remains the owner's property. Her lawyer could give her a more precise answer on your behalf based on the particular circumstances, if the owner is willing to do this.
Answered on Jun 15th, 2011 at 6:40 AM

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When a bankruptcy is filed the debtor can decide to keep or give up property such as a mobile home. If the property is surrendered the lender decides whether to keep the tenants or not. You should continue making payments to the lender or set aside the payments in a special bank account until it is decided who is entitled to them. Be sure to communicate what you are doing with the lender. Also, the bankruptcy trustee may tell you what to do with the rent payments.
Answered on Jun 15th, 2011 at 6:40 AM

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Bankruptcy Chapter 7 Attorney serving San Diego, CA at Law Office of Asaph Abrams
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Per your stated facts: if the owner is not surrendering the home to the lienholder, and payments are current, then the bankruptcy does not effect a material change to your circumstances. Note, a property can be surrendered to a lienholder within the context of chapter 13, however, there is no liquidation by a trustee in chapter 13.
Answered on Jun 15th, 2011 at 6:30 AM

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Glen Edward Ashman
Unless they retain the home in Chapter 13, no. You need to plan to move. You may have some limited rights as a tenant under state law and perhaps federal law, but long term you won't be there unless you work out a deal with the lender.
Answered on Jun 14th, 2011 at 10:22 AM

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