Bankruptcy may allow you to keep your house
A recent news article found here:http://www.twincities.com/business/ci_13823642?nclick_check=1
has reported that the news is not good for Minnesota home owners. The number of delinquent payers have expanded beyond just subprime mortgages and now includes prime mortgages. In my bankruptcy practice I have found that many individuals spend hundreds of dollars each month paying credit card and other unsecured debt. Many of these same individuals who are paying hundreds of dollars each month for credit card debt would be better served having that money available for house payments.
Bankruptcy can allow individuals to discharge the unsecured debt from credit cards and use that money to pay for house payments. The relief is often large enough to give couples a chance to keep their house by staying current on the payments.
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