staying on title of home

March 19th, 2009 by Questions

Can I declare personal bankruptcy and stay on title on my house. There is no equity in the home and a mortgage of 438,000, and an assessed value of about 450,000.

Posted from: British Columbia


One Response to “staying on title of home”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

With no equity in your house you likely won’t have any issues with retaining the property. Although, this is based on the assumption that you will continue to make the monthly mortgage payments. The only time a bankruptcy really impacts your house is if you have significant equity in the property, which you don’t.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)