Can you get a bankruptcy if you have a reverse mortgage? 9 Answers as of February 23, 2011

Can you get a bankruptcy if you have a reverse mortgage?

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Uriarte & Wood, Attorneys at Law
Uriarte & Wood, Attorneys at Law | Robert G. Uriarte
Yes, you can get a bankruptcy with reverse mortgage.
Answer Applies to: California
Replied: 2/23/2011
Cohen & Kendziorra, P.A.
Cohen & Kendziorra, P.A. | Robert S. Cohen
Yes, you can.
Answer Applies to: Florida
Replied: 2/21/2011
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
You may file for bankruptcy and obtain a discharge, even if you have a reverse mortgage. The mortgage lien will remain against the property even after the bankruptcy discharge.
Answer Applies to: California
Replied: 2/21/2011
Carballo Law Offices
Carballo Law Offices | Tony E. Carballo
Yes but you need to make sure you can protect (exempt) your equity since your house is only encumbered up to the amount of the reverse mortgage money you have received to the date of filing.
Answer Applies to: California
Replied: 2/21/2011
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
You can file bankruptcy but you may lose your house and the reverse mortgage proceeds.
Answer Applies to: Tennessee
Replied: 2/21/2011
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