House Has $30k or More in Equity
Surrendering the House to the Bank.
So, Bob and Sue decide to surrender their house to the bank. The very first thing we at Bankruptcy Tweed Coast would do for them is get them to sign a legal document which resembles a deed of release meaning they have voluntarily surrendered their house.
A Question of Caveats
Bob is a builder in NSW and has really been having a hard time due to the fact that he hurt his back. He owes $150,000 in unpaid accounts to a particular hardware outlet who have actually been really patient with Bob and are aware of his situation.