What happens if you pay off a mortgage while in the process of a Chapter7?

My credit union loan docs state if I file bankruptcy they can foreclose on my condo. My mother wants to pay the loan off (her name is on docs too). What can happen if that’s done prior to me signing the bankruptcy papers? I’m worried about losing my home. Shall we just wait for them to demand payment? Their docs say that can demand payment in full or foreclose for default.

Asked on March 12, 2012 under Bankruptcy Law, Nevada

Answers:


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