Legal Question in Bankruptcy in Ohio
I am too in debt with taxes, credit cards, loans and medical bills to pay. I have prepared to file chapter 7 since I don't own anything myself. My problem is that our house that is in foreclosure is set to be modified. My name is on the mortgage because the house originally was in my name but now the note is in my wife's name. Will filing mess up my modification even though I am not on the note?
1 Answer from Attorneys
Your lawyer should review your closing documents to determine if you are indeed on the mortgage note or merely have a property interest on the deed subject to the mortgage. If you are not a party to the note, your lawyer will likely advise you that filing bankruptcy would not impact your wife's application for a modification. However, the final decision on whether or not to modify the loan is up to the lender and may be made on any basis permitted by law.
Related Questions & Answers
-
My Daughter bought a house with her fiance about two and a half years ago. They have... Asked 12/12/09, 5:04 pm in United States Ohio Bankruptcy Law
-
My husband and I had both filed chapter 7 about 4 years ago as a result of previous... Asked 12/07/09, 1:47 pm in United States Ohio Bankruptcy Law
-
We Filed Bankrupsy on April 15th 2009 and everything is done now.. then 7 months... Asked 12/05/09, 2:47 pm in United States Ohio Bankruptcy Law
-
Discharge of Debtor It appearing that the debtor is entitled to a discharge, IT IS... Asked 12/03/09, 4:43 pm in United States Ohio Bankruptcy Law
-
We came into a large amount of money 2 years ago, gave son a gift of 5000..we are in... Asked 11/25/09, 8:34 pm in United States Ohio Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
