ARE YOU IN BANKRUPTCY?
If you are in a Chapter 13 Bankruptcy proceeding, it may be possible to work with the Trustee to get the property released from the bankruptcy proceeding and get the judge to approve a sale. In such cases, whatever equity there is will be distributed to the creditors. If the Trustee thinks that it is in the best interest of the creditors and the mortgage lender backs the deal, it may be possible.
The benefit to you is that you may be able to dramatically reduce or eliminate the the monthly payment you have to make to the Trustee.
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