Posted on: 08th Sep, 2010 05:01 am
my husband moved out 2 years ago. we own a home together which i have been living in with our son. he has been sending me money to pay mortgage and bills but it has steadily been getting less. there isn't enough money to pay all bills and eat too. we live in a small town without very many job opportunities. i would like to leave and start over. i still rely on him financially, but i'd like to get rid of as many debts that i'm responsible for as i can. i am considering filing bankruptcy and was wondering if doing so would it remove my responsibility of the mortgage?
i have checked into loan modification and refinance, we lost all our equity when the recession hit so we are in negative equity. realtors will not list us for that reason too. if bankruptcy won't do it, is there anything that will?
i have checked into loan modification and refinance, we lost all our equity when the recession hit so we are in negative equity. realtors will not list us for that reason too. if bankruptcy won't do it, is there anything that will?
Hi hessepamela!
Welcome to forums!
If you file bankruptcy, you can include the mortgage in it to get it discharged. Once you get it discharged, you won't remain personally liable for the balance amount. The lender will come after your husband in order to recover the balance amount.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you file bankruptcy, you can include the mortgage in it to get it discharged. Once you get it discharged, you won't remain personally liable for the balance amount. The lender will come after your husband in order to recover the balance amount.
Feel free to ask if you've further queries.
Sussane