How long after filing Chapter 7 can I sell my house?
Likewise, how long after Chapter 7 Can I sell my house?
You can sell your house after your bankruptcy discharge. However, you must re-invest the proceeds in another home within six months. Otherwise, the trustee can sell your house and pay your creditors. Consult an attorney as to the specific facts of your case.
Additionally, what happens to my house after Chapter 7? Chapter 7 Wipes Out Mortgage Debt Specifically, you won't be responsible for any portion of the home loan when you surrender the house. A Chapter 7 bankruptcy discharge will wipe out an obligation to pay back a mortgage deficiency. As a result, after bankruptcy, you'll be free of any mortgage-related liability.
Keeping this in view, can I sell my house after I file Chapter 7?
As soon as you file for Chapter 7 bankruptcy, you lose control over your assets. The trustee is only interested in assets he can sell. If your home has equity, the trustee typically will order a sale. However, state laws protect some of your home equity, known as your homestead exemption.
Can I sell my house if I did not reaffirm?
Yes, you can sell the home. The effect of no reaffirmation is that you do not have a personal obligation to pay the mortgage. You still are the titled owner and the mortgage is still a lien on the property so it must be paid in order to sell the property.