California Land property

[liboton21]

Planning to file in few months but I have some lot property in Apple Valley assessed value of 17k, Big Bear value of 3k and Lake Arrowhead of 2k, will the UST go after this property? Thanks in advance.

[lrprn]

Planning to file in few months but I have some lot property in Apple Valley assessed value of 17k, Big Bear value of 3k and Lake Arrowhead of 2k, will the UST go after this property? Thanks in advance.

Are you trying to protect other assets (house, cars) plus the properties when you file Ch 7? Are you planning to surrender any assets?

Here's a link to the California bankruptcy exemptions - there are two systems. You can choose one or the other - no mixing. http://www.thebankruptcysite.org/exe...alifornia.html

Without knowing more about what other assets you want to keep, where you are income-wise (above or below the median income for your family size in CA), and what other belongings you have you want to keep, we can't give you any reliable information about whether your properties are at risk or not. If you can share a bit more about your financial circumstances, that would help.

[liboton21]

Are you trying to protect other assets (house, cars) plus the properties when you file Ch 7? Are you planning to surrender any assets?

Here's a link to the California bankruptcy exemptions - there are two systems. You can choose one or the other - no mixing. http://www.thebankruptcysite.org/exe...alifornia.html

Without knowing more about what other assets you want to keep, where you are income-wise (above or below the median income for your family size in CA), and what other belongings you have you want to keep, we can't give you any reliable information about whether your properties are at risk or not. If you can share a bit more about your financial circumstances, that would help.

-House is currently underwater with 3.25% fixed for 27 years. Will reaffirm if BofA can guarantee a 2% IR for the life of the loan or "ride-through"
-3 cars, two are paid off, one still owe the CU three of them has no equity
-Above the median with only $737 difference on a monthly basis in Riverside county with family of six
-65k unsecured debt
-2 rifle, one handgun
-9k of possible tax refund but lender just escrow my prop tax. Last year refund was used to pay the property tax

Wife job as pre-school teacher but no job since April 08 due to new baby plus school had a laid-off due to few enrollments. I want to keep the guns, house, cars and lot property as well as my refund. I can put the guns, lot property as wild card using system 2. Will I be an asset case?

Thanks in advanced.