Legal Question in Bankruptcy in Indiana

I am living in florida but have a house with a mortgage in indiana. We have had it on the market to sell for 20 months and no luck. I can no longer afford to keep paying the payment and paying rent in florida. I also have a house in my name here in florida which my son lives in. This house was purchased on contract by him 2 years ago and approx. 1 year ago put in my name so I could get an equity loan on it. This house is valued at $110,000 and we have only an equity loan for $50,000 which my son pays me the payment and I pay the bank. My question is if I foreclose on my indiana home and they sue me for a remaining balance and I have to file bankruptcy will the home in florida that my son lives in be affected? If so can I put him on the deed now and would that protect him from losing the home no matter what my husband and I endure?


Asked on 5/30/12, 11:57 am

1 Answer from Attorneys
Charles Andersen Charles Andersen, Atty

I am living in florida but have a house Bankruptcy may be of substantial benefit to you. Your question is to complicated to answer here however, you should arrange a free in person consultation with a local attorney

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Answered on 5/30/12, 1:44 pm


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