Legal Question in Bankruptcy in Florida
I'm loosing my house to foreclosure . My brother is on the mortgage with me if I file for bankruptcy will it affect him. I have quick claim deed he does not live with me
2 Answers from Attorneys
Your bankruptcy should not impact your brother directly. However, it does not remove any of his liability for debts that you have together. If he is financially responsible for the loan he will remain responsible even if you file bankruptcy. I would suggest that if you file you advise him to keep an eye on his credit report. Sometimes lenders will mis-report on a co-borrower's Credit Report.
You should speak with a bankruptcy attorney for specifics about your case.
It sure will affect him. You will not owe the debt, but he still will, and they could come after him for a deficiency, but not you.
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