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#11
July 16th 05, 11:14 AM
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On Fri, 15 Jul 2005 02:20:45 GMT, George Patterson
wrote: Serious question, Dan. Used to be that, when you declared bankruptcy, most of your assets were sold and all of your creditors (including the mortgage company) were paid off from the proceeds. Now the mortgage company gets special treatment? My sense is that you get to keep the house AND the mortgage, provided your equity isn't huge. In New Hampshire, the "homestead" can be worth $125,000 if recently acquired, more if older. There's a whole lot of other exemptions, including books up to a value of $800! One sewing machine! Etc etc. I don't see any explanation of what happens when there's a mortage on the homestead. -- all the best, Dan Ford email (put Cubdriver in subject line) Warbird's Forum: www.warbirdforum.com Piper Cub Forum: www.pipercubforum.com the blog: www.danford.net In Search of Lost Time: www.readingproust.com 
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