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While in Ch.13, can we let house go back to bank? and can you come out of Ch.13 early if you did this?Due to continued health problems of my husband we ended up filing Ch. 13. Our mortgage is 1,179.00/per month and it is taking a large portion of my income (1,080.00) bi weekly comes from my payroll checks. That leaves very little to live on with a family of 4. We wanted to know if we can let the house go back (and rent) then we could probably pay remainder of bills.Thanks Attorney answers (1)
Reputation Level 15
Answered over 2 years ago.
Bankruptcy Attorney in Carlsbad, CA.
You should look into converting your case to chapter 7 which will allow you to surrender the house and discharge the remainder of your unsecured debts. If chapter 7 is not an option for you for whatever reason, then you can file a modified chapter 13 plan indicating your intent to surrender the property.
LEGAL DISCLAIMER Mr. Larkin is licensed to practice law in CA and is located in San Diego. His response here does not constitute legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter in question. Many times the questioner may leave out details which would make the reply unsuitable. Mr. Larkin strongly advises the questioner to confer with an attorney in their own state to acquire more information about the specifics of their case.
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