[Get a free evaluation of your bankruptcy case by a qualified attorney.]

Does a Chapter 7 bankruptcy discharge a secured mortgage loan?

Could someone please tell me if filing a Chapter 7 bankruptcy will discharge the mortgage loan on my investment property? The home is in foreclosure and going to public sale at the courthouse in a couple weeks. I don't want the bank to come back and sue me for a deficiency balance. I don't want to file a Chapter 13 because I don't want nor can I afford to pay this home and my primary residence. I have passed the "means test" for the Chapter 7 and support my wife as well. Therefore with my income I cannot afford to pay any further payments. I only earn enough to pay my car payment and basic living household expenses. I would greatly appreciate a response as soon as possible. Thank you.

[Get a free evaluation of your bankruptcy case by a qualified attorney.]

Have a question? Ask your legal question now and get answer in a few minutes. Know the answer? Lawyers or knowledgeable lay persons may provide informative responses to this and other questions by contacing us for instructions. Receive linkbacks to your website for helping.
Related Law Articles

Related Law Questions

Search for other answers or ask a legal expert for as little as $15.

Related Law Bulletins

Lawyers! Become an Approved Expert to Answer Questions.
US Law
#1 Online Legal Resource

Your Blog Subscriptions
Subscribe to blogs

10,000+ Law Job Listings
Lawyer . Police . Paralegal . Etc
Earn a law-related degree

Practice Area
Zip Code:

Contact a Lawyer Now!


0.7982 secs