80 year old mother may lose home in bankruptcy case

by Linda
(Ithaca, NY)

How can we prevent my mother from losing her home in a Chapter 7 bankruptcy case she will be going through soon? She has a $61,000 home equity loan that will probably cause it to happen because it is not a line of credit , but a mortgage.

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Jan 24, 2012
80 year old mother may lose home in bankruptcy case
by: Debtcollectionanswers.com

I assume that your mother has consulted with a bankruptcy attorney and that the attorney recommended a Chapter 7 rather than a Chapter 13. If your mother wants to keep her home, she should convey that information to the attorney so the attorney can help her figure out how to do that if at all possible. However, to keep her home, she will have to continue making her loan payments. If she uses bankruptcy to get rid of other debt she owes, then making the payments may be easier for her. Or, perhaps you can help her make them.

If you are concerned about your Mother's situation why not ask her if it would be okay for you to meet with her attorney (in person or by phone? That way you can get a better understanding of her situation and her options. Filing for bankruptcy is a stressful process and so your Mother may welcome your assistance and involvement.


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