Posted on: 03rd May, 2010 03:38 pm
Post Your detailed question here.
My wife and I are both on the deed of are 2nd home that we want to retire and live in. We are both on the deed . We are both now living in another state in a mobile home.
I am appearing in court in 10 days re: the filing of chapter 7 individual credit card debt of $170,000 on my credit cards only prior to marriage on Sept 19, 2008. House was purchased in both are individual names prior to marraige on May 27, 2008. I am concerned that the creitors my go after are retirement home, which is vacant now. The mortgage is $1500.00, including tax and insurance. Would you advice doing a quitclaim so creditors can't get at are retirement home. We owe $193, ooo on mortaGE. Also, we are up side down. Home is valued at $167, 000 by assesser. What would you recommend.
My wife and I are both on the deed of are 2nd home that we want to retire and live in. We are both on the deed . We are both now living in another state in a mobile home.
I am appearing in court in 10 days re: the filing of chapter 7 individual credit card debt of $170,000 on my credit cards only prior to marriage on Sept 19, 2008. House was purchased in both are individual names prior to marraige on May 27, 2008. I am concerned that the creitors my go after are retirement home, which is vacant now. The mortgage is $1500.00, including tax and insurance. Would you advice doing a quitclaim so creditors can't get at are retirement home. We owe $193, ooo on mortaGE. Also, we are up side down. Home is valued at $167, 000 by assesser. What would you recommend.
Hi rhoffman!
Welcome to forums!
If you do not include the mortgage and the property in your bankruptcy filing, then the trustee won't go after it. I would recommend you to contact a bankruptcy attorney and take his opinion in this matter. He will be the best person to guide you in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you do not include the mortgage and the property in your bankruptcy filing, then the trustee won't go after it. I would recommend you to contact a bankruptcy attorney and take his opinion in this matter. He will be the best person to guide you in this regard.
Feel free to ask if you've further queries.
Sussane