Posted on: 09th Jun, 2009 10:56 am
i have filed bankrupctyw/ my husband and have included all 3 properties that i owed, my parents signed the deed/mortgage of out the 2 properties at the time of closing, so when we got summons from the banks attorney they also recieve a summons. i did not have them response being that i was going to file bankruptcy at the time. i know i shld had them responsed but they have not. i also that the bank can not come after them. but i would like to know if there is a way to take of the les pendens b/c they on deed they were put on there. what should i do. i ve been told to do a deed in lieu of forclosure or a quit claim deed. i don't understand niether of them, can somepne help understand wht they are. i just want to get them off the lawsuits regardless if my husband and i are going to be rsponsible for the debt.
Hi vbs
As your parents had cosigned for the mortgage, so they have also received the summons from the court. It would be better if you could ask them to send a reply. Moreover, you should also consult your bankruptcy attorney. He will be best person to let you know what steps you need to take.
Deed in lieu and quitclaim deed are totally different things. Quit claiming the property now can be considered as a fraud and you can be penalized for it. As far as deed in lieu is concerned, it would come into question if you want to sell off the property.
Thanks.
As your parents had cosigned for the mortgage, so they have also received the summons from the court. It would be better if you could ask them to send a reply. Moreover, you should also consult your bankruptcy attorney. He will be best person to let you know what steps you need to take.
Deed in lieu and quitclaim deed are totally different things. Quit claiming the property now can be considered as a fraud and you can be penalized for it. As far as deed in lieu is concerned, it would come into question if you want to sell off the property.
Thanks.
You need to hire an attorney right away.
