Legal Question in Bankruptcy in Georgia

bankruptcy debt reaffirmation non-owner

My wife and I are contemplating bankruptcy in Georgia. We feel we can reaffirm our primary home debt ans our equity is minimal and within the exemption. The question is can we re-affirm a mortgage on a non-owner occupied home that we rent to our daughter? She pays us rent equal to the mortgage and there is also minimal equity.


Asked on 4/16/09, 4:39 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: bankruptcy debt reaffirmation non-owner

No one here can answer your question, since reaffirmation agreements have several requirements based on the facts of each case. That is something you can discuss with your bankruptcy lawyer, who will know all the relevant facts.

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Answered on 4/16/09, 5:13 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: bankruptcy debt reaffirmation non-owner

Maybe. There is no way to answer you without a complete list of all your assets, including values, all your debts, your income and your expenses. Whether you have sufficient exemptions will depend on the other assets. And the effect of the rental income also may impact filing. Call me if you're in metro Atlanta to discuss it further.

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Answered on 4/16/09, 6:20 pm


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