Bankruptcy Buys Time to Sell Your Home

Wasson and ThornhillSelling Your Home

Chapter 7, in the right situations, buys time to sell your home. It may buy only a couple of crucial months, or sometimes much longer.   Our last several blog posts have been about using bankruptcy to either prevent various kinds of liens hitting your home or deal with those liens if they happen. For example, in the last few … Read More

Chapter 7 Buys You Crucial Time to Move before Foreclosure

Wasson and ThornhillForeclosure

Every month you can put off foreclosure buys you crucial time to get money together to make your move to your next housing.     Last week we went through a list of ways Chapter 7 buys you time when dealing with a home foreclosure. Included was that filing a Chapter 7 case “can give you time to surrender your … Read More

Chapter 7 Buys You Some Time for Your Home

Wasson and ThornhillHome Mortgages

Chapter 7 buys you some time by stopping a foreclosure or delaying one from starting, and may also prevent liens from hitting your home.   Chapter 7 “Straight Bankruptcy” vs. Chapter 13 “Adjustment of Debts” Speaking very generally, Chapter 7 buys you some time with your home while Chapter 13 buys you much more time. So the questions are: how … Read More

Surrender Non-Home Real Estate in Bankruptcy

Wasson and ThornhillReal Estate

Chapter 7 writes off your mortgage debt as well as many other debts. It might be a way to pay your “priority” debts as well.   If you own real estate that is NOT your home, and you’re considering bankruptcy, there’s a good chance that real estate is part of what’s dragging you down financially. Maybe you made an investment that turned sour. … Read More