If I bankrupt on a mortgage for one home, how will this affect my equity in another home?

The bankruptcy itself, either chapter 7 bankruptcy or chapter third bankruptcy will have no effect on the equity of another home. But it will have an effect on you personally. If your ex-husband files for chapter 7 bankruptcy discharges his debt on the home he's living in, and you are on the mortgage, then you will be calm 100% liable to pay that mortgage. Simply because your husband does no longer want to pay the mortgage in files bankruptcy, the big problem is not your equity on your second home, is you becoming personally liable for the entire debt of the home your husband lives in. I suggest if you're still married in your husband is going to go through with this and it is financially possible, file for bankruptcy at the exact same time he filed bankruptcy or have the whole sold prior to foreclosure. If you do not have its sold prior to foreclosure and he files bankruptcy you will be the only one responsible for the debt and the bank will come after you for the mortgage payments. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://massachusettslawyeronline.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob