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Potential Traps in Surrendering an Out-of-State Home

If you have moved recently to New Jersey and own or recently owned a house in the state you lived in before, and you are surrendering that home to the mortgage company, that house could possibly still be a source of significant problems. Those problems can continue after you thought that the house was foreclosed. Also, there are important issues to keep in mind even after you file a bankruptcy case to discharge (write off) any potential debts from that house. You Own the House Until … [Read more...]

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