Can I Sell my Home Under Bankruptcy?

bankruptcyWhile no one wants to ever have to go through bankruptcy it can happen for many various reasons. Most of the reasons include a common factor which is lack of funds. When filing bankruptcy you are in essence trying to protect yourself for your future. However to protect yourself further and make sure that you are able to dig yourself out of financial debt you may want to sell your home.

In most cases you can sell your home under bankruptcy but there will be different rules and regulations. You will need to look into the type of bankruptcy that you are filing under which will be either chapter 7 or chapter 13 and see what that particular form of bankruptcy allows for. You will need to make sure that you follow all the rules, and list the asking price as well as the selling price. You will more than likely be asked to provide every bit of information you have on the house and make sure that you keep all the records for future use if the need arises.

Getting a Bankruptcy Lawyer

Most people are inexperienced when it comes to bankruptcy and if you want to make sure that you are successful and that you have someone looking and helping you, you should hire a bankruptcy lawyer. The lawyer can show you how you will be allowed to sell your house and whether or not you should sell it as a short sale or sell it normally. Your bankruptcy lawyer will have many years of experience behind them and can make sure that you follow the laws and that you do not get into any further trouble.

With the help of a bankruptcy lawyer you should have no trouble selling your home while you are under bankruptcy. Take the time to make sure that all the rules and regulations are being followed and you will have no trouble getting your sale complete.

 

Protecting Yourself during Foreclosure