The deed for my home is in my name but the mortgage is in a friends name. I want to file for ch 7 & do not want to lose my home
I have been current in paying the mortgage. I intend on filing for a joint ch 7 with my husband.
Attorney Answers
3
Dorothy Bunce ·
Most people that file Chapter 7 do not lose their homes. The issue is whether you have sufficient exemptions available in your state to protect any equity in your home, and if you do not, you may want to go with a Chapter 13 instead.
I am posting a link to a description of the exemptions for all 50 states, but you ought to be consulting with a local bankruptcy attorney for more specific advice.
Hope this perspective helps!
0 upvotes
Warren Brumel ·
You will not lose your home so long as the mortgage continues to be paid, and you have no more equity than the maximum allowed. You should seek the advice of an experienced, competent bankruptcy attorney.
0 upvotes
James Webster ·
The borrower is not filing bankruptcy. This should not be an issue.
If you lose the house, it would very likely be due to reasons other than bankruptcy.
Good luck.
0 upvotes
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