If when I filed for Bankruptcy chapter 7 and I did NOT reaffirm my home, will I be subject to a deficiency judgment? In Minnesota

Asked by Marty Mandel, Minneapolis, MN Wed Jan 30, 2013

I am in the process of selling my home in a short sale with a possible purchase agreement in play

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Roy Bush’s answer
Roy Bush, Both Buyer And Seller, Phoenix, AZ
Sun Jul 7, 2013
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.
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Douglas Perez, Agent, Los Angeles, CA
Wed Jan 30, 2013
For your legal question, you can call this bankruptcy office at (877)793-2756 or check out this website http://avvo.com both of them can give free legal advise nation wide.

Good luck!
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carlos parra…, Other Pro, Monrovia, CA
Wed Jan 30, 2013
You must have had a lawyer when you filed for Bankruptcy, why don't you ask him?!
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Ron Escobar -…, Agent, Beverly Hills, CA
Wed Jan 30, 2013
I am in California and there is no deficiency judgement claim in short sales here... I do not know in Minnesota...

What I do know is that USC Chapter 11, which covers bankruptcy is a federal law... if you received a discharge, then any and all debts covered in your BK (whether you reaffirmed it or not) are... well discharged... meaning you are no longer legally liable for them thus you cannot have a deficiency claim... as a matter of fact it is against the law if they try to come after you... note that the lien on the property is still valid and they can foreclose on the property, but cannot do anything against you personally...

I am not a licensed attorney, so yuo should consult with a licensed attorney (the one who did your BK) if you want a legal answer...

Best of luck and congratulations on your fresh start... make it count!
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Sona Gallatin, Agent, Santa Clarita, CA
Wed Jan 30, 2013
legal questions, best to ask an attorney as real estate agents are not allowed to give legal advise.

good luck!
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