Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
The loan is secured irrespective of whether it is before foreclosure or after. The loan is considered secured up to the fair market value of the home.
What is unsecured debt is the amount of the debt that exceeds the fair market value of the home. So after the foreclosure the deficiency amount is the unsecured portion.
If it is an investment property it is not consumer debt.
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