Posted on: 23rd Aug, 2008 10:02 pm
My debts are out of control. I would like to put my daughter on my mortgage and eventually let her take over the house. is this possible? after I get my house out of my name(if I can) then can I file bankruptcy. due to illnesses I just can't get my life back and catching up isn't in the near future. thank you
Hi katgssnn,
Welcome to forums.
You'll have to ask the lender if he'll allow your daughter to refinance the loan in her name. Your daughter's creditworthiness and income level would matter a lot here.
You can file bankruptcy after you get out of the home as well as the loan. But why do you wish to file it? feel free to discuss your problems here so that I can suggest an alternative. You've spoken of some illness. Is it something serious? I hope you get well soon.
Thanks
Welcome to forums.
You'll have to ask the lender if he'll allow your daughter to refinance the loan in her name. Your daughter's creditworthiness and income level would matter a lot here.
You can file bankruptcy after you get out of the home as well as the loan. But why do you wish to file it? feel free to discuss your problems here so that I can suggest an alternative. You've spoken of some illness. Is it something serious? I hope you get well soon.
Thanks
you will also need to wait up to one year before filing bankruptcy after you put the house in your daghters name.