I Declared Bankruptcy To Stop Foreclosure - Can I Sell My Home?
If you are a homeowner who declared bankruptcy to stop foreclosure, you are probably sighing a sigh of relief. However you also may be feeling the pressure of making your new, larger monthly trustee payment. You may be asking yourself, "Can I sell my home even though I am in a Chapter 13 plan?" The answer is yes - But it is not as easy as calling us up and saying - "Rich, I want you to buy my home today".
There are a few things we can do to help. First, we can try and get the Trustee to lift the stay on your home and approve the sale. This is going to be hard to do, but not impossible. It all depends on you specific situation and on the total amount of secured creditors are listed in your case.
You also have the ability to voluntarily remove yourself from bankruptcy protection and we can try and negotiate a short sale with your lender.
Both of these options are available to homeowners who wish to sell their homes, but they also come with their own set of risks which must be weighed. It is important to understand the results of the decisions you make when selling your property, stopping foreclosure or declaring bankruptcy. You should always weigh all options available to you and consult with a qualified attorney.
