Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
1) Will your son be filing a Chapter 7 or a Chapter 13 Bankruptcy?
2) How many mortgages are on your son's house?
If the house is included in the Bankruptcy, he will not be responsible for the bank's short fall if the house is sold in a short sale. Whether or not there will be a short sale, the mortgage is supposed to be included in the Bankruptcy petition, as all debts are supposed to be included.
I think this is what you wanted to know. If not, please let me know.Thank you!