what do you want to do with the houses?
If you want to keep your primary residence, you could do it if you are paying the mortgage,
and you have limited equity in the property,
in terms of the second property if you want to keep it you can but must make payments, if you do not want to keep it, you can surrender it, and the debt would be discharged.
So If I had declared it exempt, I could have kept it but would have to continue payments, right
yes, you can keep a primary residence if you agree to reaffirm the mortgage,
and have exempted equity,
Can I ask for another Trustee even though I have already met with this one
what you would want to do is reaffirm the property you want to keep,
and exempt the equity in the home, in TX, you have an unlimited equity exemption for a primary property
The question I ask earlier about the houses--(rent houses) (2) Chapter 7
you can find the exact exemptions at the link above,
in terms of the properties,
if they are not primary properties, you cannot exempt equity
if they are rentals,
and you can afford the mortgage, you can keep them,
In filling our Schedule C what does (specify law providing each exemption) mean?
you have to cite the exact law
This is only on real property. Does not pertain to personal property, right
yes, but it has to be the place you live in
Can I assume all judgements will be gone? There were no disputes yesterday.
Can I sell my homestead prior to 180 days or do I have to wait
as long as the debts were listed,
you can sell it prior,
since you have an exemption for the equity
Ok I guess that answers my questions. Still would like to get another Trustee
That would only be possible if you file a new chapter 7 case, and dismiss this one.
Good luck, and if you have any further questions please do not hesitate to ask.
If satisfied please provide us with positive feedback, thank you
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