Personal Liability On Your Mortgage Is Discharged In Bankruptcy
Posted on Mar 4, 2013 10:50am PST
In most cases, your personal liability on a mortgage is discharged when
you receive your
Chapter 7 discharge. This means you are no longer personally liable for the mortgage
debt. Your real property continues to secure the mortgage. If you fall
behind, your lender can foreclose on the real property. However, your
lender cannot sue you for any deficiency balance after the
foreclosure sale.
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If your house might be foreclosed, we can help you explore your options
and take legal action.
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