Archive for the 'Law & Ethics' Category

What happens to a real mortgage when a debtor files for bankruptcy?

February 17 20092 Commented

Categorized Under: Law & Ethics

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? [...]