Im selling a rental property i have , im 2 yrs into a 60 month plan the house is paid outside of the chapter 13 , i dont make any money on it what i get for rent its what i pay , i know i can surrender it to the bank but that will bring my credit score back down around 80 points but if i sale it for market value and pay of the loan with out making any money is this possible ?
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selling a rental property in chapter 13
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The possibility depends entirely on market conditions. Please know that you not only need to modify your plan, once the property is sold, that you may also need permission to sell the property; even though it's "paid" outside the plan.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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