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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I did a quitclaim of a home i owned to a friend with the verbal

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I did a quitclaim of a home i owned to a friend with the verbal agreement that she would be able to refianance the home in her name in two years. Since the quiteclaim was signed she has went in to foreclosure status twice which is delaying her from refianancing the home in her name. I am now having to file bankrupcy for my own financial situation. Can I include this mortgage in my bankrupcy due to it has now been four years and my friend still has not been able to refiance?

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy and Consumer Protection attorney here to assist you.

cfortunato :

Will you be filing a Bankruptcy in Italy or in the US?

Customer:

The US

cfortunato :

Thank you for your response.

cfortunato :

Yes - you are supposed to include all debts in a Bankruptcy - including debts or mortgages for property you no longer own.

Customer:

I have giving my friend over the time she was suppose to refianace the mortgage but due to her going into foreclosure twice, she has to wait another year or two to try to refiance. do you thunk the courst can make me keep the property in my name.

cfortunato :

Keep the property in your name? If you have signed a quitclaim deed 4 years ago, do you mean can the court order you to take the property back?

cfortunato :

I meant 2 years ago.

cfortunato :

No - I see it was 4 years ago.

Customer:

I mean can they make me keep the loan in my name? or is there away I can take her to court for breech or contract? I was told that the courts will make me keep the loan in my name since I did a quit claim deed to her. I was told I have no rights to the property at all.

cfortunato :

No - the court cannot make you keep the loan in your name if you file a Bankruptcy.

Customer:

Thank You. I just wanted to know if I was stuck holding this mortgage forever since I made a stupid mistake of doing a quitclaim deed for a friend.

cfortunato :

You're welcome!

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