Can I Keep My Home in Campbell CA If I File Bankruptcy?
According to a recent San Jose Mercury News article, a lot of bankrupt homeowners in the South Bay Area have been able to do just that. Those who have filed bankruptcy have been able to get the courts to grant their request for the elimination of their second mortgage so they can stay in their home.
Sounds great, right? There is just one caveat: this will apply only if you do not have enough equity in your home in Campbell CA to cover the second mortgage. This may not be an issue for you if you purchased your home in Campbell CA in recent years and did not put down a large down payment.
According to bankruptcy lawyers, this provision in the bankruptcy code has been around for many years. The reason it has not been used that much is due to the fact that in the past, there was usually enough equity in a home to cover the second mortgage. With that not being the case anymore, bankruptcy lawyers can use this provision to help you stay in your home in Campbell CA and have your mortgage be closer to the real value of your home. To see if you qualify, please consult a local bankruptcy attorney.
Trang Beuschlein has been helping those selling or buying Campbell CA Real Estate for years, providing exceptional service. When you need a full-time, experienced Campbell CA Realtor who can sell your home in Campbell CA for top dollars in the least amount of time or who can negotiate the best deal for your new home, you can count on Trang Beuschlein. If you are looking for a Campbell CA real estate agent who provides first-class service or for a list of Campbell CA Homes for Sale, please call (408) 410-5628 or send an e-mail to
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Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA
Good Morning Trang, very important information for home owners in trouble to consider. They may be able to qualify. Thanks for sharing the link.
May 11, 2011 03:00 AM
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