What should I know about selling my home after I have filed for bankruptcy?

Answer by  Liz59 (10966)

Basically, the house no longer belongs to you, so you have to obtain legal permission from the courts to sell your home.

Answer by  withluck (1745)

If the home was kept out of the bankruptcy, you will need to make sure where the profits from selling will go. You should consult first your bankruptcy attorney for clarification and if you still have questions, contact the bankruptcy court directly. Best to find out specifics before the sale.

Answer by  LeheckaG (1826)

Depends on where you are in the bankruptcy-proceedings? Check with your federal-bankruptcy-court clerk or trustee. Your-primary-residence is normally-excluded from your-liquidated-assets in bankruptcy, if you sell your-primary-residence, then after your-secured-mortgage(s) are paid, any-proceeds should be used to pay your-other-creditors. A-"like-kind-exchange" might be used to "trade" into another-primary-residence, shielding sale-proceeds from other-creditors.

Answer by  Mollichella (445)

Selling your home should not be the main concern after filing for bankruptcy. I would be more worried about finding a place to rent or buy after that. You are going to need a place to live and your credit is going to be destroyed after filing for bankruptcy. I would stay in your home if you can.

Answer by  Hoth (56)

It can be difficult to sell your house after filing bankruptcy, there is going to be inflated rated that will be expensive.

Answer by  technogeek (6640)

Do not include your home in your bankruptcy, and therefore, you are free to sell your home if you wish.

Answer by  John (9008)

If your bankruptcy is not final and any payment plans completed, you cannot sell your home or any other asset without invalidating the whole process.

Answer by  Sauve (435)

You can still go ahead and sell your house after you file for bankruptcy because, the bank or your creditors will want to come after the last possesions you have or owned so they can get their money back. You need to talk to a lawyer about your decision first so you dont get in any kind of trouble.