New York State question - My father in law is about to file Chapter 7 bankruptcy. Hubby and I want to buy his house. His attorney assures all that the house will be exempt, as it was appraised for $80,000 and he owes $73,500 mortgage and about $9,000 in back taxes. Can we buy the house while the bankruptcy is pending? How much OVER the appraisal can we offer? We want to borrow enough to pay the mortgage and back taxes on the property. What if our appraisal for the mortgage comes in higher than the bankruptcy appraisal? Should we wait until he is discharged? I'm really confused and don't know how to proceed, so any help would be appreciated. Thanx.