Question by Gotcha4: Can bankruptcy filing get rid of my mortgage loan which is 60% more than the value of my property/collateral?
Chapter 7 bankruptcy filing appears to be the answer versus Chapter 13 filing which to me appears to be just buying time but the mortgage loan is still due.
Best answer:
Answer by Beverly S
Yes- chpt. 7 only. It will ruin your credit for awhile though and is very hard to get unless you have extremely low or no income.
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