Can a entity folder for liquidation to carry out of paying on a mortgage for a piece of property?
I own property and there have be no payment made in 7 months. I plan on foreclosing. However, I wonder if the buy can database for bankruptcy and get out of paying me the money owed
Answers:
The answer may change depending on which state the property is located in.
For example: in Philadelphia, Pa, the law favor the tenant. So, if you own the property and someone is not paying their rent, it is not as simple as kicking them out and changing the locks.
If you are the person attempting to escape pay for pay by filing for liquidation, QEOK.com is far beyond helping you. Contact a bankruptcy attorney and a life coach ASAP.
You will have to find a buyer very promptly. It would be best if you can find someone to purchase the property to save your credit and avoid bankruptcy which can affect your credit significantly.
If it forecloses later your credit rating will also be affected. However, you still will be responsible in paying off the mortgage company the difference in what is owed after the sale of the property.
I would first try to find a buyer. There are inhabitants now who specifically look to purchase properties in trouble. Also, check out some realtors as they are also doing similar things.
might be tough to win blood from a stone - you have to file your mortgage lien next to the court when he files BK in order to catch on the list as a creditor to have any hit and miss of any recovery
From my personal experience - prior to the unknown laws put in place a few years ago - the liquidation allows you to hold off foreclosure and start anew, basicly. You are entitled to certain home, household stock, transportation etc...Call and ask a any bankruptcy lawyer.
Yes, but you will have the property so you can sell it again.
probably. depends on how the laws are where on earth you live. you'll probably also lose the property.
Yes, you can any have your assets liquidated to sate the debt under chapter 7 bankruptcy. Or you can go and get bankruptcy protection under chapter 13 collapse which will protect your assets from being seized by creditors while you work to pay past its sell-by date debts. Source(s): http://www.legalformsbank.biz/bankruptcy…
they will supply the property at a tax sale & you will owe waht is disappeared
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Answers:
The answer may change depending on which state the property is located in.
For example: in Philadelphia, Pa, the law favor the tenant. So, if you own the property and someone is not paying their rent, it is not as simple as kicking them out and changing the locks.
If you are the person attempting to escape pay for pay by filing for liquidation, QEOK.com is far beyond helping you. Contact a bankruptcy attorney and a life coach ASAP.
You will have to find a buyer very promptly. It would be best if you can find someone to purchase the property to save your credit and avoid bankruptcy which can affect your credit significantly.
If it forecloses later your credit rating will also be affected. However, you still will be responsible in paying off the mortgage company the difference in what is owed after the sale of the property.
I would first try to find a buyer. There are inhabitants now who specifically look to purchase properties in trouble. Also, check out some realtors as they are also doing similar things.
might be tough to win blood from a stone - you have to file your mortgage lien next to the court when he files BK in order to catch on the list as a creditor to have any hit and miss of any recovery
From my personal experience - prior to the unknown laws put in place a few years ago - the liquidation allows you to hold off foreclosure and start anew, basicly. You are entitled to certain home, household stock, transportation etc...Call and ask a any bankruptcy lawyer.
Yes, but you will have the property so you can sell it again.
probably. depends on how the laws are where on earth you live. you'll probably also lose the property.
Yes, you can any have your assets liquidated to sate the debt under chapter 7 bankruptcy. Or you can go and get bankruptcy protection under chapter 13 collapse which will protect your assets from being seized by creditors while you work to pay past its sell-by date debts. Source(s): http://www.legalformsbank.biz/bankruptcy…
they will supply the property at a tax sale & you will owe waht is disappeared
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