What happens if the builder of a condominium project files bankruptcy?

Answer Depending on the state of the project at filing time, there may be several options. First, if there are owners involved who have purchased units, especially those with mortgages, those entities sho... Read More »

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What happens if a builder files for bankruptcy?

While it may be a bit of an inconvenience if your builder files for bankruptcy, you may not be negatively impacted at all. This depends on the type of bankruptcy filed and the builder's intentions.... Read More »

In Chapter 7 Bankruptcy can you use the Homestead Federal Bankruptcy Exemption to keep your 120000paid off condominium with a lien against it for an 11000credit card debt in pa?

Your right that PA has no special homestead exemption for BK and you would rely on the Federal one.The lien (the Cr Card one), is essentially the same as a first position mortgage against the prope... Read More »

In Pa in chapter 7 bankruptcy can person use Federal Bankruptcy Exemtion to keep 120000 paid off condominium if this is only asset and only projected income is 238 monthly?

Refer to your last similar Q.Yes you have a 125K Federal Homestead Exemption.Yes you have issues that need to be protected by an attorney in the BK process (any creditor will have one and they will... Read More »

What if your condominium declares bankruptcy?

Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared. Rea... Read More »