Posted on: 30th Sep, 2009 05:12 pm
Hi,
I am in my mother's house deed but not on the loan. I've been ill and have lost my job. I am thinking of filling for bankruptcy. Will the creditors go after my mother's house? Will it affect her in any way?
Thank You,
Carla
I am in my mother's house deed but not on the loan. I've been ill and have lost my job. I am thinking of filling for bankruptcy. Will the creditors go after my mother's house? Will it affect her in any way?
Thank You,
Carla
yes. it will affect as you are coowner.
before going fo bk, you quit claim deed it your mother. it will not be treated as wrong, since you are not on mortgage
before going fo bk, you quit claim deed it your mother. it will not be treated as wrong, since you are not on mortgage
Welcome Carla,
You will have to list the property as your asset. However, if you file for Chapter 13 bankruptcy, you do not need to include the mortgage in your bankruptcy filing as your name is not on the mortgage docs.
You will have to list the property as your asset. However, if you file for Chapter 13 bankruptcy, you do not need to include the mortgage in your bankruptcy filing as your name is not on the mortgage docs.