Legal Question in Bankruptcy in Ohio
Agent Orange hit a few years ago and my health went downhill fast. I have diabetes, hypertension, and gongestive heart failure just to name a few problems. I started drawing social security when I turned 62 and I get a small VA disability check. I can't work at the small business I built and it's about to go under. I have buku credit card debt which I could pay with relative ease when I was able to work but now is eating me upo. I have a mortgage and a line of credit loan on my house which puts it about $10,000.00 upside down. And, there's the rub. My wife and I love our home of 20 years and are cirrent on payments. Furtherm, we can make the payments there from our reduced income. The question is, what are the odds we can keep our house if I file a chapter-7, no assets, bankruptcy. My biggest credit card debts are my own and Ohio is not a community property state so my wife, half owner of the home, would not have to file. Please advise.
1 Answer from Attorneys
If you are current on your house payments, a mortgage holder is unlikely to foreclose on the property in a Chapter 7.
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