Comments on: Are There Tax Consequences if You Surrender Your Home in Bankruptcy? http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/ Personal Bankruptcy tips and tricks moderated by Atlanta lawyer Jonathan Ginsberg Sat, 30 Jan 2010 16:02:17 +0000 hourly 1 By: Brenda http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/#comment-11832 Brenda Sat, 09 Jan 2010 15:10:35 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=114#comment-11832 <p>I was so glad to find this answer regarding taxes on a house included in a Chapter 7 bankruptcy! I'm going to try to file my paperwork with a lawyer, and this was a huge concern for me.</p> I was so glad to find this answer regarding taxes on a house included in a Chapter 7 bankruptcy! I'm going to try to file my paperwork with a lawyer, and this was a huge concern for me.

]]> By: Jonathan http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/#comment-10641 Jonathan Tue, 16 Dec 2008 19:32:56 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=114#comment-10641 <p>Criss, I can only speak to the procedures common in the Northern District of Georgia, where I practice. Generally, if you state your intention to surrender in your Chapter 7 petition, that will trigger the mortgage company to hire counsel and file a Motion for Relief from Stay. Once the stay is lifted, the lender will begin the foreclosure process. In Georgia, that involves advertising the property for sale in the official county newspaper for four weeks. Foreclosure would be the first Tuesday of the month following the advertising. If you are still there, the lender (or foreclosure purchaser) will file an eviction notice and the judge in the eviction proceeding will usually give you 7 to 14 days to leave.</p> Criss, I can only speak to the procedures common in the Northern District of Georgia, where I practice. Generally, if you state your intention to surrender in your Chapter 7 petition, that will trigger the mortgage company to hire counsel and file a Motion for Relief from Stay. Once the stay is lifted, the lender will begin the foreclosure process. In Georgia, that involves advertising the property for sale in the official county newspaper for four weeks. Foreclosure would be the first Tuesday of the month following the advertising. If you are still there, the lender (or foreclosure purchaser) will file an eviction notice and the judge in the eviction proceeding will usually give you 7 to 14 days to leave.

]]> By: criss http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/#comment-10640 criss Tue, 16 Dec 2008 19:16:33 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=114#comment-10640 <p>I have filed a chapter 7..how long to I have before I am kicked out of my home</p> I have filed a chapter 7..how long to I have before I am kicked out of my home

]]> By: Cami http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/#comment-8160 Cami Fri, 25 Jan 2008 16:36:14 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=114#comment-8160 <p>I have filed for a BK7 my court date is Feburary 8. I am going through a divorce. We both left the home. It is getting ready to be sold at a lesser value. My question is since i filed a BK7 do i have to pay for the back taxes on the home? we stopped paying the morgage sometime in march i believe</p> <p>thank U Cami</p> I have filed for a BK7 my court date is Feburary 8. I am going through a divorce. We both left the home. It is getting ready to be sold at a lesser value. My question is since i filed a BK7 do i have to pay for the back taxes on the home? we stopped paying the morgage sometime in march i believe

thank U Cami

]]> By: Non-Bankruptcy Foreclosure Workouts - Does It Make Sense for You? | theBKblog http://www.thebklawyer.com/thebkblog/2007/02/21/are-there-tax-consequences-if-you-surrender-your-home-in-bankruptcy/#comment-4687 Non-Bankruptcy Foreclosure Workouts - Does It Make Sense for You? | theBKblog Wed, 07 Mar 2007 16:11:18 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=114#comment-4687 <p>[...] resort, there are some cases where bankruptcy does make sense.  For example, as I discussed in a previous post on this blog, a deed in lieu of foreclosure or a voluntary surrender may result in a large tax bill, whereas the [...]</p> [...] resort, there are some cases where bankruptcy does make sense.  For example, as I discussed in a previous post on this blog, a deed in lieu of foreclosure or a voluntary surrender may result in a large tax bill, whereas the [...]

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