Posted on: 08th Dec, 2008 08:33 pm
my father wants to do a quit deed and list me on the property with him. he recently had his original deed stolen from his daughter who once had power of attorny over his estate. that has been revolked recently. because she still has papers stating that she has power attorney and the deed papers..that was the reason my father wanted to list me on his proprty with him. i am considering filing bankruptcy and need to know if the courts can come after his property even because my name is on it with him. please advise
hi cndi
if you do not include the mortgage in your bankruptcy, i don't think the lender will come after the property. but i guess you are filing chapter 7 bankruptcy. in my opinion you should try to file chapter 13 bankruptcy which will help you to save the property. in chapter 13 bankruptcy, the lender will give you a new payment plan which will help you to pay off the debts within 3-5 years.
thanks.
if you do not include the mortgage in your bankruptcy, i don't think the lender will come after the property. but i guess you are filing chapter 7 bankruptcy. in my opinion you should try to file chapter 13 bankruptcy which will help you to save the property. in chapter 13 bankruptcy, the lender will give you a new payment plan which will help you to pay off the debts within 3-5 years.
thanks.