bankruptcy questions

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Foreclosures and bankruptcy. Guest attorney Matt Englett discusses Chapter 7 Bankruptcy on http://lawfriendslive.com. According to Englett, when filing Chapter 7, all of your debt is discharged with the exception of your home. In regards to your home, the debt has to be reaffirmed, and that means, all of your debt is wiped away, but you still own your home and you still owe the bank the money you borrowed to purchase your home. You are still personally liable for the mortgage.

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