My ex girlfriend is planning to file chapter 7 bankruptcy. We are both on the mortgage, but she has an equity line of credit in just her name. Will I still be able to keep my house once she files?
1 Answer from Attorneys
Unless your gf's case has some unusual aspects, the most likely outcome is that yes you can keep the house. The bankruptcy gets rid of her personal obligation to pay the mortgages, but the liens for both mortgages including the line of credit stay on the house and are not affected by the bankruptcy. So yes you can keep the house, provided that you keep making the payments on both mortgages.
Sometimes I find people surprised when I call a home equity line of credit a "mortgage." The lenders try to keep you from thinking of it that way, but that's what it is.
This response is not legal advice, is for general information purposes only and does not create an attorney-client relationship.
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