QUESTION
Does bankruptcy allow me to keep my home if mortgage is still owed and we cannot pay?
Asked on Mar 24th, 2017 on Bankruptcy - Wisconsin
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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No, bankruptcy will allow you to keep your home if you can pay the mortgage but nothing will allow you to keep a house without paying.
Answered on Jun 29th, 2017 at 12:33 AM
Not generally. But you can sell the home to keep your equity. Meet with an experienced lawyer to show you how to isolate your money from creditors.
Answered on Jun 20th, 2017 at 7:53 AM
1 Award
No.
Answered on Jun 20th, 2017 at 7:52 AM
No, bankruptcy will not let you keep your house without also paying the mortgage.
Answered on Jun 19th, 2017 at 12:35 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Not really. The lender is stayed from foreclosing only before you are discharged, and even then, it can move the court for relief from stay. This is because the mortgage is a security interest and generally it cannot be taken away from the lender .
Answered on Jun 17th, 2017 at 10:17 AM