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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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how can my mom keep her house if she files bankruptcey and

Resolved Question:

how can my mom keep her house if she files bankruptcey and has a first and second on the house that is more than the value of her home.. she also has stage four cancer and has few months to live., i am the power of attorney and not sure what to do..
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

Hi JACustomer,

1) Is your mother behind on the first mortgage payments?

2) If she is behind, will she be able to make the payments going forward?

3) Has either mortgage company started foreclosure proceedings?


Edited by cfortunato on 11/8/2010 at 11:46 PM EST
Customer: replied 5 years ago.
I have been paying all her bills and keeping them current. her house was paid off when she got devorced(1996) and then she proceded to get two mortgages out on them..
Expert:  cfortunato replied 5 years ago.

If the mortgages are current, and if the total balance on those mortgages is more than the value of the house, your mother will be able to keep the house if she files a Bankruptcy. Debtors who file a Bankruptcy can only lose the house if they are not paying the mortgage, or if the house is worth more than the mortgages.

I'm not sure if this is what you wanted to know. If not, please let me know.

Thank you!

Edited by cfortunato on 11/9/2010 at 12:24 AM EST
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Customer: replied 5 years ago.
Am i responsible for any of her debt? before or after her death sence im the power of attorney..
Expert:  cfortunato replied 5 years ago.

Thank you for accepting my answer!

No - you are not responsible for any of her debt, unless you co-signed or personally guaranteed any loans for her.

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