Bk Fraud and Cash out Mortgage

[ballantynemom]

Florida
Is it fraudulent to refinance a home with 50K cash out - not pay any bills - and file BK within 6 months hiding that money or is it exempt under home exemption? This BK was done during the old law; however, it has not been disposed as they are asking for tax returns back.

 

[bigun]

In Fl. all equity in a home is exempt. However, it's usually not a good idea to refi until the bk is closed.
I'd suggest you call your lawyer.

 

[JETX]

Florida
Is it fraudulent to refinance a home with 50K cash out - not pay any bills - and file BK within 6 months hiding that money or is it exempt under home exemption?

Sounds like fraud to me......

 

[ballantynemom]

I Agree JETX... I think my ex should be turned in to the trustee... after all, most people take out 2nd mortgages and cash-outs so they don't have to file BK.... It's bs