Posted on: 05th Dec, 2011 01:53 pm
my husband filed BK7 in 2008.the house mortgage was included but we still live in the house and continue paying our monthly payment.we r thinking of walking away from the house that is included in BK7 coz the house got alot of problems and fixing it will be way too much for us. since our mortgage was included in BK7 and its been more than 3 yrs now since then and we r working now to reestablish his credit record, if we decide to walk away from our house now is it still possible we can get a mortgage loan?. we will just stop paying our mortgage payment once we can be approve for a new mortgage. is that possible we can do that?. and can the mortgage company can change the status in my husband's credit record of the mortgage from INCLUDED IN BK7 to FORECLOSURE?
Hello Cindy,
Ownership of real property is determined by the wording on the title or deed not by the names on the lending agreement.If the debtor owns a share of the property then a lien can usually be placed by a judgment creditor.The exception would be married couples holding property as Tenancy By The Entirety when only one spouse is the judgment debtor.
:idea:
Ownership of real property is determined by the wording on the title or deed not by the names on the lending agreement.If the debtor owns a share of the property then a lien can usually be placed by a judgment creditor.The exception would be married couples holding property as Tenancy By The Entirety when only one spouse is the judgment debtor.
:idea:
Hi Cindy ,
If the corporation is relatively new or had no credit history, the credito card company might demand that you personally guarantee the debt and you will need to have a credit check. If you have been in business a long time, the credit card company MIGHT not require a personal credit check.
Thanks ...
If the corporation is relatively new or had no credit history, the credito card company might demand that you personally guarantee the debt and you will need to have a credit check. If you have been in business a long time, the credit card company MIGHT not require a personal credit check.
Thanks ...
