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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2597
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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My ex wife lives in my first home for the next five years per

Customer Question

My ex wife lives in my first home for the next five years per the court order which is 1/2 mine and 1/2 hers, and paid for free and clear. I live in a second home that I used a home loan from my 401(k) in the amount of $35,000 for the down payment. The remaiming is financed by Bank of America. Is the $35K I borrowed from my 401 (k) account considered equity in my 2nd home; therefore, available to pay off creditors by the courts (i.e. will I have to sell the second home?)?
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  lwpat replied 3 years ago.
Thanks for using JA. I will do my best to answer your questions. DON’T FORGET, your deposit is not used to compensate me until you rate my service.

Are you filing bankruptcy?
Customer: replied 3 years ago.

I am considering chapter 13, no other options

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