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.
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