Sunday, November 15, 2009

Bankruptcy – Should I File If I am Letting the House Go?

November 15, 2009

If you have a first and a second mortgage, you may need to consider bankruptcy even if you are willing to let the house get foreclosed.  For more information on second mortgage issues, please see my prior post. If you have only one mortgage and you don’t have any other debt issues, you probably don’t [...]

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After Foreclosure in Georgia, When Will the Second Mortgage Holder Sue?

November 15, 2009

In Georgia, if you file Chapter 13 bankruptcy or Chapter 7 bankruptcy, the answer is never.  Creditors can’t sue you in a Chapter 13 and a second mortgage holder can be wiped out in a Chapter 7 and a Chapter 13 if you are surrendering the house.  In bankruptcy, the automatic stay protects you from [...]

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