filing bk, can they force the sale of my home?

[smbclifton]

What is the name of your state?sc

i probably am going to have to file bk.
i purchased a mobile home for my daughter. she has not been able to keep up payments due to illness.

i could afford to help her when it was purchased three years ago, however i was diagnosed with cancer in september.

i know they will sell it for pratically nothing and i am liable for the difference.

can they force the sale of my home if i file bk?
it is the only thing of value. i probably have less equity than i will owe them.

the rest is unsecured debt. i desperately need to keep my home, as payments are much less than rent.

thank you.

 

[Ladynred]

If the equity in the home is more than the exemption, then its possible that the Trustee may grab it and sell it. However, mobile homes depreciate very badly and you may not have the equity you think you have.

If your equity is within the exemption limits, then you just reaffirm the mortgage and keep paying it if you can keep up the payments.

SC homestead exemption is $5,000. However, in SC, you may use Federal Exemptions instead, and the homestead exemption for Federal is $16,150.

You can find all the exemptions for SC and Federal listed here:

http://www.thebankruptcysite.com/exemptions/federal.htm

http://www.thebankruptcysite.com/exemptions/southcarolina.htm

 

[smbclifton]

thanks

thanks ladynred. i can afford to keep the mortgage up..just the medical bills got so out of hand i couldn't do everything, and planned to get another job before the cancer diagnosis.
just can't do it now. and i hate it.
but don't want to lose my home.