Rock Springs, WY asked in Bankruptcy for Wyoming

Q: I included my house in bankruptcy last year, but I’m still living in it. Can I just walk way or could I short sale it?

I did a loan modification after bankruptcy and paid two months but couldn’t pay it anymore. The mortgage company said I can do a short sale. Is it ok for me to try to short sale or should I just walk away?

* There is no equity in the house and a did not take any money when the modification was done*

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2 Lawyer Answers

A: The answer to this question depends on several unknow factors, such as how much equity there is and whether you took money out when you did the loan modification.

Timothy Denison
Timothy Denison
  • Bankruptcy Lawyer
  • Louisville, KY

A: If you signed a reaffirmation agreement, that debt survives bankruptcy. Look into a short sale. Also contact your bankruptcy attorney about what to do next. If you did not reaffirm, you can just walk away.

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