Forum

Foreclosure and Chapter 7 Question

Posted by Trip Evans on May 13, 2013 at 1:24am in Short Sale Discussions
My wife and I had our home loan foreclosed on by the lender. A final summary judgment was issued against us. A foreclosure sale has not yet occurred. The property is in my name and my wife's name. I cannot file CHapter 7 b/c I make too much. My wife is a homemaker and has virtually no assets in her name. I have been told that foreclosure deficiencty debt is dischargeable under Chapter 7 bk. If my wife files Chapter 7, what happens to the foreclosure deficiency since the loan is in both of our names?

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Email me when people reply –
Follow

Replies

  • Bryant Tutas May 13, 2013 at 3:02am

    Hi Trip. BK laws are very complicated. You need to speak to a BK attorney about this.

This reply was deleted.
********************************** like buttons ************************