Posted on: 15th Jan, 2010 03:11 pm
my wife is on the deed. if we file for chapter 7 bankruptcy will i loose a house that my mother in law lives in under a life estate agreement
Hi wolfkind,
After filing bankruptcy, if you reaffirm the debts and keep on making the payments, then you won't lose the property. After the reaffirmation, you would become personally liable for the mortgage dues once again. Paying off the dues regularly to the lender will help you save the property and will also have a positive affect on your credit report.
Thanks
After filing bankruptcy, if you reaffirm the debts and keep on making the payments, then you won't lose the property. After the reaffirmation, you would become personally liable for the mortgage dues once again. Paying off the dues regularly to the lender will help you save the property and will also have a positive affect on your credit report.
Thanks