Michigan | Credit and Debt Law
2/06/12, 3:52 pm
Legal Question
I filed a quit claim deed over a year ago transfering my house to my son reserving for myself a life estate. I have about $30,000 in unsecured debt and may be loosing my job soon. Can the creditors sue and force me to sell my house to pay them. There may be about $50,000 in equity after the $75,000 still owing on it. Although with todays market I doubt I could even get $100,000 for it. I could afford the house payment but not the credit card payments also.
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Legal Answer
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Read More Answered By: Thomas R. Morris |
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