Legal Question in Bankruptcy in Nevada

can i save my home and file bankruptcy?

i've lived in my home for 25 years. i married in l996; put both names and refinanced going to 20 instead of 30 years. The money was funded (all of my equity of 25 years) 9/21/200 and that was the last time I saw my husband. i now am unable to live in my same home of 25 years because i can't afford to pay 2 mortgages. i am upside down in my home due to the physical damage he caused. i have no money and just abuot to go into foreclosure. can you help me? i have proof from title company, divorce decree, any kind of proof and more. i only have a few more day's before this happens. please e-mail me back if you are interested or could help me. Of course there is alot more to this and since he has been ordered to pay this back to me and is not; criminal charges are now in process of being filed against him. which does not help me but i am so scared and don't know what to do.


Asked on 3/19/02, 3:10 pm

1 Answer from Attorneys
Dorothy Bunce

Keeping home when filing bankruptcy

Unfortunately, when the title to property is put up for a loan, you can keep the property only if you pay the loan, EVEN if you file bankruptcy.

This rule applies to real estate as well as auto title loans.

When the ads on tv urge you to consolidate your bills into one easy payment with a second mortgage, they ought to tell you that you will lose your house if you can't pay.

Readers, please beware of these kinds of situations. Everyone wants to be able to pay their debts and keep their good credit, but it should not be at the cost of losing your home,

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Answered on 3/19/02, 4:16 pm


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