Legal Question in Real Estate Law in Florida

Stopping Bankruptcy to Transfer property to family member
I recently filed for bankruptcy in March 2003 to save my home from foreclosure and I am having second thoughts about bankruptcy because the payments are twice as much as the original mortgage and I was told it couldn't be modified and I can't afford this payment at this time, and I have decided to transfer my mortgage obligations over to a family member who is more than willing to take over the mortgage obligations to avoid losing the home. The question is, is it possible to do a transfer even though I am in foreclosure and is it possible to stop the bankruptcy process? If so, would this family member be able to refinance the mortgage and pay the arrears on the mortgage loan after the transfer or how would this work with the bank.

Asked on 7/30/03, 12:27 am

Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

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Re: Stopping Bankruptcy to Transfer property to family member

You should consult with competent counsel and do it as soon as possible.

Answered on 7/30/03, 1:33 am

Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

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Re: Stopping Bankruptcy to Transfer property to family member

Consult your bankruptcy counsel immediately.

Answered on 7/30/03, 10:16 am

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