Legal Question in Real Estate Law in Massachusetts
i am in debt from my own business, my husband wants to re-fi our home, but with my credit score, i don't think we can.....i do not want to give the title
of the home to my husbank only, for re-fi, we own another property, that we only owe one year on..........any suggestions on re-financing our home, and or getting out of debt.....credit card and some individual vendor's.....
1 Answer from Attorneys
Thank you for your question.
Generally speaking, it would not make sense to trade 'unsecured debt' for 'secured debt'. Refinancing to pay off your debt may turn unsecured creditors into a secured creditor (your mortgage company) who can take your home if you do not pay.
If you are looking for referral to a bankruptcy attorney, I would be happy to recommend someone. They can tell you about the process and whether it would work for you.
If you are looking to dispute or settle your debts, or if you are being threatened with collection action, our firm would be happy to represent you.
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