How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

IF A PERSON COSIGNS ON A HOME AS A NON-OCCUPYING BORROWER,

Resolved Question:

IF A PERSON COSIGNS ON A HOME AS A NON-OCCUPYING BORROWER, AND THEN LATER FILES BK DOES THIS IMPACT THEIR BK FILING?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 4 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

WebLaw :

Typically the debtor's personal liability on the loan would be discharged by the bankruptcy.

WebLaw :

The homeowners would be able to retain the home provided they continue to make the loan payments

WebLaw :

I think this is what you're asking.
Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

WebLaw :



Best wishes for a Happy and Healthy New Year!

Customer: replied 4 years ago.

Did not see your response

Expert:  Ellen replied 4 years ago.
Thank you for letting me know. I will report the problem. Here is the answer I previously posted:

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

Typically the debtor's personal liability on the loan would be discharged by the bankruptcy.

The homeowners would be able to retain the home provided they continue to make the loan payments

I think this is what you're asking. Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

 

Best wishes for a Happy and Healthy New Year!

Customer: replied 4 years ago.
So can the person file BK without a problem because of signing on the home loan?
Expert:  Ellen replied 4 years ago.
Yes. The fact that the person signed the loan would typically not have any bearing on his bankruptcy.
Ellen and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions