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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I have a lien on the title of my home. am trying to refinance.

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I have a lien on the title of my home. am trying to refinance. Had a BK 07aug2009 discharged. Debt on lien is auto that was repoed. 17,000 dollar lien. Judgement was 11 months prior to BK13 that was later converted to BK7. Attorney filed motion to dismiss but creditor objected, hearing set for Sept. 28. What can creditor do? Debt was discharged. Home value is within exemption. Thank You I live in Oregon
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

Hi Customer,

1) When was the lien placed on your home?

2) When you referred to the home value, did you mean the equity?

3) What is your attorney trying to have dismissed?

 

Customer: replied 4 years ago.
lien was placed on home in july 08. My home was worth 260,000 When I filed chapter 7, I owed 213,000 When I filed chapter 7. Attorney filed a motion to remove lien/judgement.
Expert:  cfortunato replied 4 years ago.

Last questions:

Was the lien placed on the home before the Chapter 13 was filed?

Was the lien placed on the home before the Chapter 13 was converted to a Chapter 7?

Was the motion to avoid the lien filed in the Bankruptcy court?

Customer: replied 4 years ago.
Yes, lien was on home before chapter 13, but within one year. Yes, Motion was filed in BK Court. Case was reopened. then closed.
Expert:  cfortunato replied 4 years ago.

In general, a lien that is placed on property before a Bankruptcy is filed cannot be removed, unless there is an applicable exemption that would have precluded the lien's attachment at the time it was attached.

Your creditor will try to show that the applicable homestead exemption at the time of filing was not sufficient to avoid the lien. The Homestead Exemption was recently increased from $30,000 for a single person to $40,000, and from $39,000 for a couple to $50,000.

Since the equity in your home at the time of filing was $47,000, the creditor may be able to maintain the entire lien if you were single when you filed, and a lien for $8,000 if you married.

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
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