Chapter 13 gives you much more power over your mortgage and other home-related debts so that you can sell your home when it’s best for you.
Our last blog post was about using Chapter 7 “straight bankruptcy” to buy time to sell your home. The advantages of Chapter 7 are that it’s usually quite quick and costs less that Chapter 13. It also importantly focuses on your present income and on the present value of your home. If you expect either your income or your property’s value to increase substantially, Chapter 7 could be your better option.
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