Re: defeciency question
Posted by Janie on September 22, 2004 at 12:51:12:
In Reply to: defeciency question posted by justme on September 22, 2004 at 12:27:48:
No. First, there is no "discharge" in a Chapter 13, persay. Chapter 13 is a repayment plan. When you complete it, then you fulfilled the obligation to creditors.
Check your state's deficiency laws to see if you have any worrries. Why aren't you selling the house rather than losing it to foreclosure?
Worst case scenario, if the lender sues for deficiency, and you can't pay, file a Chapter 7 bankruptcy to discharge that debt.
: I filed chapter 13 bankruptcy which was discharged. In the chap. 13 i paid my 1st and 2nd mortgage outside of the plan just as i had always normally paid them. i have now moved out of the house, and it is being foreclosed on. if there is a deficiency after the foreclosure sale, am i free from liability for the deficneincy because of the discharged chapter 13?
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