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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I live in GA and have a motgage note but transferred the tilte

Resolved Question:

I live in GA and have a motgage note but transferred the tilte for someone else to take over my payments. Payments are now two months behind. I can't afford to make mortgage payments and my current home payments and person won't release title back to me. Can I file Chapter 7 in GA and be realese from my mortgage.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,

 

Thank you for your question. I am happy to assist you.



A Chapter 7 bankruptcy would typically discharge your liability under the mortgage.


A Chapter 7 bankruptcy could discharge (erase) all of your credit card and any other unsecured debt. It could eliminate any deficiency on the house in foreclosure. It could be an opportunity for a fresh financial start.


I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

 

Thank you,
FLAandNYLAWYER


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Customer: replied 8 years ago.
I understand what bakruptcy is but based on my situation, can I file or would there be some problems with the house title not being in my name and I file with it as part of my bankruptcy
Expert:  Ellen replied 8 years ago.
Hello,


There does not appear to be a problem because the house title is not your name. The issue is the liability on the mortgage note.


Whether you qualify for a Chapter 7 will depend upon whether you pass the means test. This is a complicated calculation based upon your income that your local counsel will need to assist you with.


I hope that this information has helped you.


If I can be of assistance in the future, please ask for FLAandNYLawyer.


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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

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