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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I CO-OWN A HOME WITH SOME ONE WHO IS DECEASED OWNERSHIP THEN

Customer Question

HELLO I CO-OWN A HOME WITH SOME ONE WHO IS DECEASED OWNERSHIP THEN TRANSFERRED TO HIS MOTHER WHO IS NOW ALSO DECEASED HE DOES HAVE SIBLINGS BUT I HAVE NO CONTACT WITH THEM. I HAVE NOT LIVED IN THE PROPERTY SINCE 1998 AND NO ONE HAS BEEN LIVING IN THE PROPERTY SINCE HE PASSED IN 2004. I ATTEMPTED TO DO A SHORT SALE AND TO NO AVAIL, I WASNT ABLE TO CARRY IT THROUGH BECAUSE OF THE SIBLINGS. MY ONLY RECOURSE IS TO FILE CHAPTER 7. I LIVE WITH MY PARENT AND CAN ONLY THINK OF FILING FOR BANKRUPTCY TO GET A CLEAN START. THERE IS LITTLE TO NO EQUITY, I'M ASSUMING, IN THE HOUSE. I JUST DON'T HAVE ANY OTHER SOLUTION. IM BARELY STAYING AFLOAT AND THE MORTGAGE HASN'T BEEN PAID IN AT LEAST A DECADE SO I'M NOT SURE AS TO WHY I NEVER RECEIVED FORCLOSURE NOTICES.
Submitted: 6 months ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 6 months ago.

Thanks for your question. You can discharge your liability on the mortgage through chapter 7. The other owners are on the hook for payments. the property will then go into foreclosure eventually. You are responsible for property upkeep and maintenance and any HOA until then though.

Expert:  Terry L. replied 6 months ago.

did you have any other questions?

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