Legal Question in Bankruptcy in California

It depends on what they want to do and the type of bankruptcy. If the house does not have enough equity in it to liquidate and the person filing Chapter 7 bankruptcy wants to continue making payments on the mortgage to keep the house, nothing will change. If that person does not want to continue paying then the other person must pay, or otherwise the bank will eventually foreclose. If the house has a lot of equity and the person who files bankruptcy does not want to lose it but file Chapter 13 bankruptcy, then that person will agree in their Chapter 13 plan to make mortgage payments, among paying off other debts, for the length of the plan, which is 5 years max. After the plan, mortgage payments must continued to be made by someone, of course, in order to keep the house.

Larry L. Doan, Esq.

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