Legal Question in Bankruptcy in Massachusetts

staying in my house after filing chapter 7

i would like to know if i file chapter 7 including my house would i still be able to live in the house and pay the mortgage.i have a co borrower on the loan and i know they will be responsible for the loan after i file, but the co borrow signed a quick deed to give me the house in 2005 due to a divorce but from what i am hearing they are still responsible for the debt there name is still on the mortgage bills, also i am trying to do a modification on the two loans that i have it's a 80/20 loan the 20 percent loan is in bad debt status and they will not work with me untill my debt changes, can they foreclose on me even if i'm current with the 80 percent loan last question when the loan is removed from me because of the bankrupcy can the bank sell the house on me or is the co borrower still responsible for the debt...thank you


Asked on 3/30/09, 5:22 pm

1 Answer from Attorneys
David Baker Law Office of David Baker

Re: staying in my house after filing chapter 7

Frankly, it would be dangerous to rely on any response to this question. You really need to see an attorney and discuss the specific facts of your situation with the attorney because there are too many variables. A lot will depend on the value of your home and how much you owe on the mortgage, for example. Also, while a bankruptcy might relieve you of the legal obligation to pay the mortgage, it probably would NOT eliminate the bank's right to foreclose. Please see an attorney for advise tailored to your situation.

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Answered on 3/30/09, 7:24 pm


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