Posted on: 09th Nov, 2011 12:33 pm
Will I loose my house if he files for Bankruptcy? The house deed is only in my name but the mortgage has both of our names. Please help
Hi Guest,
You will not lose the property but you will become solely liable for paying the mortgage debt in full. The lender will come after you to recover the debt as the other person will get a discharge from it.
Thanks
You will not lose the property but you will become solely liable for paying the mortgage debt in full. The lender will come after you to recover the debt as the other person will get a discharge from it.
Thanks
hi whattodo,
The debt becomes the responsibility of the co-signer. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
:idea:
The debt becomes the responsibility of the co-signer. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
:idea:
