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Old 03-14-2007, 08:55 AM
Daylily Daylily is offline
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Default Bankruptcy and Mortgage question

As I mentioned a while ago in my blog, a member of my family filed for bankruptcy. I don't know too many of the details. I know the amount of the assets and debts because that was listed in the newspaper. I also know that the family is now on a payment plan for four years.

I am wondering what happens to the mortgage? Is that rolled into the payment plan? And if so, does that mean their house will be completely paid off in 4 years?
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Old 03-14-2007, 09:30 AM
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boefixepa boefixepa is offline
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I don't know about your situation, but generally speaking the Mortage is NOT part of the payment plan. They are generally paying the normal amounts...now if they are behind, they might be being brought current in the 4 year plan, but I'd bet the house is NOT going to be paid off in that 4 years, probably only unsecured debt.
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Old 03-14-2007, 08:26 PM
Snoopy2645 Snoopy2645 is offline
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I am sure the house is left out of this however cant they take money from the sale of the house when they do sale they did that to my MIL btw I dont know all the details of what she did she filed before I met DH & sold the house afterwards & had no idea they would take a chunk out but they sure did.
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