Should I Sell My Home to Prevent Bankruptcy in Mooresville, NC?

Facing bankruptcy at any point in life is always a stressful and difficult situation. At times, it’s just inevitable. However, if you file for bankruptcy, several laws in Mooresville dictate what you can or can’t do with your property. When you declare bankruptcy, you will not be allowed to borrow money and will stop returning any money to your lender.

Besides, your lender can’t foreclose your property because it is shielded under bankruptcy protection. You can’t also sell your house without specific permission from the bankruptcy court. As a result, we will be discussing the laws that dictate whether you can sell your property to cover your debt or not in this article.

The Laws Behind Property Sale in Mooresville After Declaring Bankruptcy

Laws Behind Property Sale in Mooresville After Declaring Bankruptcy

The Sale of Private Houses are Exempted

In most cases, private houses are exempted from bankruptcy law. This means you can’t sell your homes in Mooresvilleeven after you have declared bankruptcy. Although if the trustee can prove that selling your private property is the best thing to pay your mortgage, the court may approve the sale.

In a case like this, it is best to sell your property in Mooresville, NC, to Maverick Property Group. We will purchase your home directly at the highest possible rate.


Proof That You are not Causing any Financial Damage to the Lender

Before the court grants you approval to sell your home, the court will ask you to prove that you are not in any trouble with your mortgage lender. They look at your financial details and proceed to assess the value of the property.

After careful evaluation, if the court finds out that the value of your home is high, they will ensure that it is not exempted. This means you might be forced to sell it to take care of your debt.


The Sale of Investment Properties is not Exempted

Undoubtedly, investing in the property market is a great way of making money. If at any time you declare bankruptcy, the laws of Mooresville require that you sell these properties to pay back your lenders. However, you might be able to stop this process only if you can prove that selling them will cause hardship.

At Maverick Property Group, we have a long track record of providing clients with the best value and deals, especially when dealing with bankruptcy issues. We are dedicated to solving your problems.


Proof That You Have an Experienced Lawyer in Place

When dealing with a case like this in a bankruptcy court, it is advised that you get a lawyer that can familiarize themselves with the court proceedings. When choosing a lawyer, you are advised to select one that has a lot of experience in bankruptcy cases.

Having the best realtors in Mooresville, NC, in place will also go a long way in seeing you through the process. Let Maverick Property Group help you out. We are always happy to help our clients find solutions to their real estate problems.

How Maverick Homes Can Help You Mitigate your Bankruptcy Situation!

Facing bankruptcy can be a terrible experience but not a death sentence. A lot of times, the bankruptcy court will ask you to put all your houses for sale in Mooresville, North Carolina, to settle your debt. However, working with Maverick Property Group is the best decision for you at a difficult time like this.

We can purchase your home directly, make you an all-cash offer (often within 24 hours).

You can be sure of a hassle-free transaction when you work with us so that you can move on to live the best life that you deserve.


Call: (704) 614-6699

Recent Blog Post

Can I Sell My House in Foreclosure in Charlotte, NC?

Can I Sell My House in Foreclosure in Charlotte, NC?

Navigating the complex waters of a home foreclosure is a challenging endeavor. In Charlotte, NC, homeowners in such a predicament may wonder if they have the option to sell their house even while it is in foreclosure. It’s a nuanced issue with legal implications and...

Hidden Costs Home Sellers Face In Charlotte, NC

Hidden Costs Home Sellers Face In Charlotte, NC

In the bustling real estate market of Charlotte, NC, various hidden costs can often surprise home sellers and significantly impact their net profits. These costs, which range from pre-sale inspections and necessary repairs, to home staging, marketing, closing costs,...


No Fees. No Commissions. Put More Cash In Your Pocket!

Fill out the short form: