Legal Question in Real Estate Law in California

Roommates filing for bankruptcy
I bought a house with four other people. Just recently, two of them came to me and the fourth person and told us they were no longer going to pay the mortgage and are filing for bankruptcy because they ''cannot afford it'' and are ''willing to foreclose the house''. Of course the fourth roommate and I don't want this. Is there a way to get out of this whole situation and walk away from this house? Can these two people really negatively affect the two of us this easily? Is there anything I can do? The fourth roommate and I cannot afford the house on our own without these two others who are walking away from this.

Please help.

Asked on 12/11/07, 2:00 pm

Lyle Johnson Bedi and Johnson Attorneys at Law

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Re: Roommates filing for bankruptcy

It would seem that you have three choices. First: maintain the payments on the mortgage and work out a deal to buy out the two who want out.

Second: Put the house on the market and sell it for whatever you can.

Third: Stay in the house until it is foreclosed and you are evicted.

Answered on 12/15/07, 1:46 pm

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