real estate


Question by  itgirl48 (18)

Can I file bankruptcy and still sell my house?

I need to sell my house and file bankruptcy.


Answer by  dee33 (36)

The sale of your home is possible while in bankruptcy. As long as there is no loss associated to the sale. You will need to seek approval from the courts to sell your home. After getting approval you may need to keep the trustee updated on the status of your sale and when a buyer is found.


Answer by  etexas (19)

It depends on what type of bankruptcy. In Chapter 13, you need to get approval from your trustee once an offer has been submitted. In Chapter 7, no permission is needed as long as it is 30 days after your creditors meeting.


Answer by  TextStud (87)

Usually the answer is , "No" to this one, but in a few cases it has happened. Usually the house will be listed as an asset and when you claim bankruptcy, will be used to satisfy any outstanding debts.


Answer by  Latin4 (11170)

You can file bankruptcy, but the money you make on the house will probably go to the bills you owe. If you can get help with your bills, you can precent bankruptcy.


Answer by  NGoodson (3395)

When you file for a bankruptcy, you usually have the option to keep some of your posessions such as houses or cars. You would need to sign a reaffirmation agreement with your mortgage lender promising to pay the loan according to your original terms. This way, you could still sell your house and pay off the loan.

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