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Should I file a Chapter 7 bankruptcy for discharge of investment property?
1. Should I file a Chapter 7 bankruptcy for discharge of investment property?
My wife and I have had an investment property since early 2008, which was being
paid for and managed by the investment company we loaned our credit to (stated
income loan). Since the housing market crash later that year, we are left holdin
g the hot potato. This house also has a 2nd mortgage (HELOC), which was invested
elsewhere by the investors of this company, that is lost as well. Both the 1st