Hello, I am facing a forclosure on my home, my name is not on the note, the note is in my X-husbands name to the mortage company, however; my name is on the mortage and the deed. I live in the home, where I run a state liscensed daycare. Can I file a chapter 13 on my own to protect my business and home? Or because my name is not on the note to the mortage company, could this be agrued. In addition, the mortage company is Washington Mutual, would there laws apply or would Michigans laws apply? And what are those laws?
1 Answer from Attorneys
First, if the Lender sought to foreclose the property located here in Michigan then Michigan Law appiles. It is confusing that your name is on the deed and mortgage but not the note. Assuming that is correct, then you can file for bankruptcy but it will not save the home. The lender, pursuant to the mortgage, will be able to foreclose to take the property and sell it at public auction. They would have to get relief from the automatic stay imposed in the bankruptcy but they would still be able to foreclose. What they would not be able to do is come after you for the balance on the loan because the bankruptcy would wipe out that debt. But if your name is not on the promissory note then they may not be able to sue you for that debt anyway. I would be glad to sit down and talk about possible options. Aldrich Legal Services specializes in Bankruptcy, along with Real Estate, Probate and Family law matters. If you believe that we could be of service please visit our website at aldrichlegalservices.com or call me, Brad Aldrich, directly at (734) 404-3000 for a free consultation.
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