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Ellen
Ellen, Attorney
Category: Bankruptcy Law
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my residence, a condo is worth 75 K, first loan 97K with 35k

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my residence, a condo is worth 75 K, first loan 97K with 35k deferred as negative amortization, second loan 34K. Current on first mrtge. I am planing NOT to claim homestead exemption. Will trustee rent it out?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

The trustee will not rent out a property unless it has a positive cash flow after payment of the mortgages and the condo association fees.

Again in a 13, not a 7, you can strip the 2nd

What advantage to you hope to gain by not claiming homestead exemption?
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