Credit Card offers- Onile savings account- personal insurance » Bankruptcy Code http://www.cashorcredit24.com Find answers for all your financial problem Fri, 29 Apr 2011 17:58:04 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 What happens to a real mortgage when a debtor files for bankruptcy? http://www.cashorcredit24.com/what-happens-to-a-real-mortgage-when-a-debtor-files-for-bankruptcy http://www.cashorcredit24.com/what-happens-to-a-real-mortgage-when-a-debtor-files-for-bankruptcy#comments Tue, 01 Jan 2008 08:27:11 +0000 admin http://www.cashorcredit24.com/what-happens-to-a-real-mortgage-when-a-debtor-files-for-bankruptcy mortgage
JV asked:


I’m a creditor whose debt is secured by a real mortgage. I’ve received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent debtor by the way is an individual, not a corporation. Please prvide legal basis.

Thank you. :)

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