Legal Question in Real Estate Law in Georgia
home mortgage issue
My mother co-signed for a home for me. 6 or so months later the company that was working for closed, and I losted my job. I filed bankruptcy in a effort to save my house but later had to sign the house over the mortgage company. I also placed my house on the market as a precaution, so if it came down to foreclosure, I could maybe get a deed lieu foreclosure(I have been told this is a better end of foreclosure)She received a letter asking for the full amount of the loan, what options does she have beside bankruptcy, can see get a deed lieu foreclosure? My mother has just been released from bankruptcy maybe a year or so ago, so I am not sure that it is an option again or so soon. And it just does not seem right to have to file bankruptcy on a home you do not live in and the mortgage company will resale later.
1 Answer from Attorneys
Re: home mortgage issue
Your post is far from clear, and no one here can guess what effect either bankruptcy case had on the debt, if any. She can call her bankruptcy lawyer to discuss the old case or a new one. As far as it "not seeming right," that was something to consider when signing loan documents (as primary borrower and co-signer).
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