Posted on: 31st Jan, 2012 01:55 am
Hello all,
I'm curious is my cosignor is allowed to claim a chapter 13 on our home without my knowledge. I've heard he's not allowed to do that. We are also going through a short-sale right now. When he filed for bankruptcy, it voided our shortsale which WAS supposed to close in four days. So, I am confused on how he could file for bankruptcy and include our home without my consent. Maybe it is possible...I'm just looking for answers to continue our shortsale. It may be possible to ask for an extension on our shortsale. Please help. Thanks!!
David
I'm curious is my cosignor is allowed to claim a chapter 13 on our home without my knowledge. I've heard he's not allowed to do that. We are also going through a short-sale right now. When he filed for bankruptcy, it voided our shortsale which WAS supposed to close in four days. So, I am confused on how he could file for bankruptcy and include our home without my consent. Maybe it is possible...I'm just looking for answers to continue our shortsale. It may be possible to ask for an extension on our shortsale. Please help. Thanks!!
David
Your co-signor's name is mentioned on the mortgage deed as one of the borrowers of the loan. He can include that loan in his/her bankruptcy filing. There is nothing wrong in it as far as I can understand. However, if the loan is included in the bankruptcy filing, then the short sale deal will be canceled.
Thanks for the answer..not what I wanted to hear.....LOL. I just found out his lawyer can take the house off of the bk but its going to cost 750.00. Should I be responsible for this or meet him halfway? The people who were going to bye our home through the short sale are from Canada and have threatened to sue us. The have spent 4500.00 for airline tickets and inspections NOT inluding attorney fees. My cosigner barely has any money at all, I don't think he'll meet halfway...what do you all think of the situation.
David
David
Hi jerko,
You're in a tough situation now. I will suggest you to contact an attorney and discuss your situation. If you're not in a contract with the buyers, then they won't be able to sue you.
Thanks
You're in a tough situation now. I will suggest you to contact an attorney and discuss your situation. If you're not in a contract with the buyers, then they won't be able to sue you.
Thanks
You already have an attorney, based on what you've noted earlier. Is the Ch 13 forcing your coborrower into negating the sale? You need to speak with the lawyer, get involved with your coborrower's lawyer, and work to iron this all out.
Obviously, you don't want to get into the situation in which you're sued by the prospective buyers, who subsequently end up with a judgment against you.
Obviously, you don't want to get into the situation in which you're sued by the prospective buyers, who subsequently end up with a judgment against you.
Jameshogg, I am getting a lawyer very soon. I believe I AM in a contract with the buyers throught Bank of America. everything was actually supposed to take place today (2/3/120
Gmakerley, i do not have an attorney as of yet. I was talking about my co borrowers attorney. I am currenty in contact with my co borrowers attorney, and I add....he is NOT a nice person. lol. Anyway, this whole situation is killing me.
I JUST thought of another thing...Can ANY attorney take the property off of the bankruptcy? Or does it have to be my co borrowers attorney? Does anyone know? Please help!
Gmakerley, i do not have an attorney as of yet. I was talking about my co borrowers attorney. I am currenty in contact with my co borrowers attorney, and I add....he is NOT a nice person. lol. Anyway, this whole situation is killing me.
I JUST thought of another thing...Can ANY attorney take the property off of the bankruptcy? Or does it have to be my co borrowers attorney? Does anyone know? Please help!
Hi jerko,
Your query has been replied to in the given page: http://www.mortgagefit.com/bankruptcy/removeproperty.html . Please take a look at it. I hope it will help you.
Thanks
Your query has been replied to in the given page: http://www.mortgagefit.com/bankruptcy/removeproperty.html . Please take a look at it. I hope it will help you.
Thanks