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*
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.
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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