Legal Question in Bankruptcy in Ohio

Have mortgage with two others listed on loan

I am filing a chapter 7 bankruptcy. I currently have a mortgage which has myself, my daughter, and my ex son in law listed as buyers. My daughter and son in law were divorced in March 2002. My son in law signed a quit? claim for his portion of the mortgage. He has not lived at this residence for over one year. After their divorce, my daughter moved into her mother's home, leaving me with the house and mortgage payment. My son and I have been living in the home by ourselves since March 2002. Previously, we had all agreed to share the mortgage payments, however I have been paying them myself for almost 1.5 years. I am currently six payments behind, and my home is in foreclosure. (Wells Fargo Home Mortgage). I am now filing bankruptcy, and giving up the house. What happens to my daughter who is no longer living here, and cannot pay the mortgage payment either. She has custody of her two children, and receives child support. She works fulltime, but her income and support go to her car payment and child care. She would not be able to pay for this house. Thank you.


Asked on 12/28/02, 10:10 pm

1 Answer from Attorneys
Jay Maynard Attorney at Law

Re: Have mortgage with two others listed on loan

If your daughter is financially responsible for the mortage payment, when you file bankruptcy, the mortgage company will seek payment from your daughter and son, or any other party. They only way they can avoid collection procedures and possible judgment is to either have their name's removed from the mortgage as financial responsible parties or to file a bankruptcy also.

Please feel free to contact my paralegal at 1-800-681-2068 if we can assist you in any other way. I wish you the best.

Read more
Answered on 12/28/02, 11:00 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Ohio