Surplus Foreclosure Funds Due Owner Exempt Under Colorado Homestead
In the rare event (in this depressed housing market) that a foreclosure sale yields surplus funds beyond that needed to satisfy the mortgage, the prior homeowner receives those funds; those funds are...
View ArticleCan Homestead Exemptions Apply to More Than One Property?
Question: I am 61 years of age and I own (with mortgages) two condos. The value of each does not exceed the $90,000 home equity exemption allowed in Colorado for Chapter 7 bankruptcy, nor does the...
View ArticleMultiple Homeowners, and One Owner Files Bankruptcy, What Happens?
Nothing causes more disarray then having a house with multiple homeowners and one of those owners files bankruptcy. This situation commonly occurs when multiple siblings inherit a family home, or when...
View ArticleWhen Should You Use a HELOC to Get Out of Debt?
Bankruptcy isn’t right for everyone. Sometimes debtors may need to resort to their assets, such as using a HELOC, to get out of debt. Many people are too quick to dismiss bankruptcy as an option;...
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