Bankruptcy. Selling while in Bankruptcy

[Thomas Baker]

Do I need a special realtor to sell my property while I am still in bankruptcy?  I will not be able to stay in bankruptcy after next month because I will not be able to keep up with my payments.  Should I wait until  the the trustee kicks me out? I just want to do what is right. Is it simpler out of bankruptcy? When I lose my building, I will lose my job as I run my business from that location. 

[Jason Wray]

If you are in Bankruptcy it means your primary home is more than likely listed as an asset and you have a lien on your property.  Because its an asset the judge and trustee order the title to list it under BK 13 or 7.  You would need to talk to you trustee or get the judge to allow you to sell the home. 

Keep in mind all proceeds will go towards paying off all of your ordered debts and you may not walk away with any cash if it does not zero out your debts.  Most states offer homestead which offers primary home protection but not against a sale or refinance while under a BK.

I would call yout trustee and request a 30 day payoff and see what the amount is minus your sale proceeds.  If you can sell and apy it off do it and start fresh and keep all payments on time and it only take 12 months before you can buy again.