Can I Short Sale my House in Bankruptcy?
A San Jose bankruptcy attorney answers what many Bay Area consumers ask with regard to short sale of your house in bankruptcy...
Yes and no. Once you file for bankruptcy, regardless of the chapter, your property becomes that of the bankruptcy estate. This means that you cannot sell or transfer your property without the express permission of either the court or the Trustee. If a debtor wants to short sale their house while in bankruptcy, they must file a motion with the court requesting permission to short sale their house.
Often times, an individual will attempt to short sale their home just prior to filing bankruptcy. Usually, the homeowner will contact their agent and submit a cash offer to vacate the house immediately and turn it over to the bank. On occasion this works, but it is likely that the bank will not offer any cash amount to move out immediately.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
