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  • backontrackOH
    started a topic Land Contract "Equity" and Chapter 7

    Land Contract "Equity" and Chapter 7

    I am currently the buyer in a land contract in Ohio. I made a down payment and have made several principal payments on the loan, all to the owner of the home.

    How will the 'equity' I have in the home be viewed by a trustee if I file a chapter 7 bankruptcy? Ohio has a $20,200 homestead...
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  • t606149
    started a topic Chapter 7 and Land Contract

    Chapter 7 and Land Contract

    I live in Wisconsin and purchased a home on a 'Land Contract' with a second mortgage to cover the 'down payment'. I did this after a divorce and wanted a place for myself and (2) children to live in.

    I had my 341 meeting in October and now requested my attorney to file papers to give...
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