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Our home was refinanced 22 months ago and the finance company insisted on writing the mortgage in my husband's name only. Now I am having to file for a chapter 7 for debts in my name only. I want to be sure our home safe.
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If the mortgage is under your husbands name, your chapter 7 bankruptcy should not affect your house at all. Although if the deed is under your name you should find out how your interest in real estate will be affected. Hiring an experienced bankruptcy attorney is very important for these very reasons. In Massachusetts the Homestead Exemption is very high, but I am not privy to that information for all states.
I have responded to your inquiry according to the laws of Massachusetts, where I practice. 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 & ASSOCIATES, LLC Attorneys At Law www.massachusettslawyeronline.com 126 Shove Street Unit 202 Fall River, MA 02724 Office: 888-269-0688 Cell: 508-801-6747 FAX: 877-475-8147
Answered on Dec 17th, 2012 at 3:45 PM