How does this affect my bankruptcy if I have a tenant but I want to surrender the house back to the lender? 9 Answers as of March 14, 2016

I am currently in chapter 13 bankruptcy. I took a job in another city 250 miles away. The rent I'm charging is $100.00 more than the mortgage.

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GARCIA & GONZALES, P.C. | Richard N. Gonzales
Contact your Chapter 13 attorney. You need to amend your schedules.
Answer Applies to: Colorado
Replied: 3/14/2016
Ronald K. Nims LLC | Ronald K. Nims
The advantage of bankruptcy is that it lets you break your contract with the tenant without being sued by him/her.
Answer Applies to: Ohio
Replied: 3/14/2016
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
Please talk to your attorney. There are many moving parts in a bankruptcy. The impact on your chapter 13 case will depend on the plan (is it confirmed? What does it say? ), the court orders, your trustee, the local rules and customs, etc. There isn't nearly enough information in your post to answer your question. If you don't have an attorney it's not too late to speak with someone who is knowledgeable in bankruptcy in your specific local.
Answer Applies to: California
Replied: 3/10/2016
Stephens Gourley & Bywater | David A. Stephens
You may have to amend your plan depending on how it treats the rent and the residence.
Answer Applies to: Nevada
Replied: 3/10/2016
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
If you are in California you are supposed to notify the tenant and send the payment to the lender so long as the tenant pays the rent.
Answer Applies to: California
Replied: 3/10/2016
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    I am not certain. But I think that the tenant will have a clean against you for the expense of moving. Generally this problem is avoided by paying the tenant something to give up his rights under the lease. A separate question is what the chapter 13 trustee will think of your surrendering the property. Is there any equity above the exemption amount?
    Answer Applies to: Wisconsin
    Replied: 3/10/2016
    Garner Law Office
    Garner Law Office | Daniel Garner
    Sounds like you would need to file a modified chapter 13 plan, stating your intention to surrender the house, and also comply with any state or local ordinances concerning notice to your tenant.
    Answer Applies to: Oregon
    Replied: 3/10/2016
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    See your attorney and make sure the trustee is fully aware of your changing situation.
    Answer Applies to: Michigan
    Replied: 3/10/2016
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    You can surrender the asset to the creditor and amend your plan to reflect alternative treatment to that creditor. I assume there is no equity in the property. If there is a resulting deficiency after the bank forecloses, it will hold an unsecured claim in your case. This may affect distribution to other creditors. You may want to try a short sale to avoid having to make partial payment to the bank through your plan as an unsecured creditor if it will cause issues with completing your plan.
    Answer Applies to: Nevada
    Replied: 3/10/2016
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