SPARC Forums
Main Forums => General Issues => Topic started by: stepmom23 on Jun 14, 2007, 05:54:20 AM
DH just received notice last week that BM has filed for Chapter 7 bankruptcy protection. Anyone know if her mobile home would be considered an exemption in the state of Florida? We're concerned that the children will be without a home if not.
Chapter 7 exemptions would include a mobile home. However, only if they are current on their payments. If they are delinquent and have loans on the property, it can be taken away.
So I guess the answer is yes and no.
Good luck
Ref
>Chapter 7 exemptions would include a mobile home. However,
>only if they are current on their payments. If they are
>delinquent and have loans on the property, it can be taken
>away.
>
As far as we know, they are current on mortgage payments. This bankruptcy is due to a financial situation that she ran from and did not take care of 9 years ago (after divorce from my DH). They found her this past January and filed suit for payment. She's filing chapter 7 to prevent paying the $150,000 back to the bank.