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What can happen if you file bankruptcy and you own a home?

Posted on: 07th Aug, 2009 10:01 am
about a year ago, i co signed on my moms home so she could refinance and now i would like to file bankruptcy how would that affect her house
mrm_80

Here is a good articla on Bankruptcy. This may give you some more info

http://www.mortgagefit.com/bankruptcy.html

Check it out

Good luck and feel free to ask
Posted on: 08th Aug, 2009 06:49 pm
Hi mrm,

I don't think a quitclaim deed would help you in any way. If you file a quitclaim deed and transfer the property to your mother, you will not be able to file bankruptcy within a year. If you do so, the bankruptcy trustee can consider this as a fraudulent transfer. I would suggest you to contact a bankruptcy attorney and take his opinion in this regard.
Posted on: 10th Aug, 2009 12:09 am
can i file bankruptcy if i already had one eight years ago
Posted on: 11th Jan, 2010 11:42 am
can i file bankruptcy if i own a home
Posted on: 11th Jan, 2010 11:43 am
Hi!

Welcome to forums!

To roma,

If 8 years have passed since you filed a bankruptcy, then you can file another bankruptcy now. You should contact your bankruptcy attorney and discuss your case in details with him. He will let you know which chapter of bankruptcy is best suited for you.

To duffy,

You'll be able to file bankruptcy if you have a property. Why are you planning for bankruptcy? Is it because of your property?

Sussane
Posted on: 11th Jan, 2010 09:23 pm
if,after determining the unencumbered equity of your you find that you do have substantial equity, the next step is to see if you can protect it in a chapter 7 bankruptcy by using the homestead exemption or by using a wildcard exemption.
Posted on: 13th Jan, 2010 12:30 am
just stopping by to see what suyoq had to say on this
Posted on: 13th Jan, 2010 03:48 pm
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