I am considering filing Chapter 7 BK but I spoke with an attorney and he said I have more money/assets than are allowable for exemption. I am trying to short sell my home but I refinanced in 2006 and my CPA said the unpaid mortgage balance will result in tax liabilities. After researching online I found that if I file BK before I short sell then I won't be taxed. My question is if I file BK can the Trustee take my money/assets that are not exempt to payoff my mortgage creditor?
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