QUESTION
If you are on a joint mortgage (not a spouse) and declare bankruptcy is the other party still responsible for 100% of loan amounts?
Asked on May 31st, 2012 on Bankruptcy - Missouri
More details to this question:
Home is in Florida and reside in different state. Have a first mortgage and a second mortgage on home and are totally upside on mortgages.
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
bankruptcy does not affect the obligations of non-bankrupt parties. The question you are asking is really one of state law (where the property is located).
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
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Answered on Jun 01st, 2012 at 3:32 PM