Home arrow Mortgage Forums arrow Budgeting and Personal Finance arrow

Bankruptcy question

Author Message
Icon Mini Profile dawn1977





Joined: 24 Oct 2008

Posts: 1

1.31 Dollars($)
Post Posted: Fri Oct 24, 2008 6:41 am    Post subject: Bankruptcy question
Like 0
Dislike 0

I cosigned for my brother on a house when my dad died, then he refinanced to have the mortgage put in his name only, the judge had asked me to see those two appraisals, What does that mean. I am not on the Mortgage but found out I am on the deed. will that hurt me?
Icon Mini Profile jerry
jerry
Moderator



Joined: 17 Oct 2005



Posts: 2619
Location: MICHIGAN
415.87 Dollars($)
Post Posted: Sat Oct 25, 2008 2:50 am    Post subject:
Like 0
Dislike 0

Hi dawn!

If your name is not on the mortgage and if you are not a co-signer, then your credit will not be hurt in any way. However, in my opinion you should ask your legal adviser as to why the judge has asked to review the two appraisals. I think that will clarify the things for you.

The title of your question says "Bankruptcy Question". Do you have a query related to bankruptcy? You can place your query in the forum and the forum members will try to answer it.

Thanks,

Jerry
Dawn

Guest







Post Posted: Mon Oct 27, 2008 8:08 am    Post subject: bankruptcy
Like 0
Dislike 0

I spoke to my attorney who was rude, but thats a different thing, he said judge wants to see if the house had any equity that i could have paid off some of my debts, but they werent the same back then, and I cant figure out what now has to do with then.
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

Posts: 4772
Location: New Jersey
499.62 Dollars($)
Post Posted: Tue Oct 28, 2008 1:30 am    Post subject:
Like 0
Dislike 0

Hi Dawn!

As you are not on the mortgage, it will be better if you can quitclaim the property to your brother. I think that will help you to come out of this trouble. However, you should remember that as your name is not on the mortgage, your credit will not be affected.

Thanks.

_________________
Good is the Enemy of Great.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
Speak to a lender now.
We will match calls to our toll free number with our network of lenders.
Highlights
Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Helpful References
34 Tax tips boost your savings
12 financial ways for Seniors
Budgeting Lesson 1
401k/403b Retirement Loan


Calculators     [View all]
Calculate Debt-Income Ratio
Calculate Retirement savings
Convert IRA to Roth IRA
Tax savings in 1031 Exchange


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.071 seconds.