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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31781
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I am on the deed with my wife and mother. The reason we are

Customer Question

I am on the deed with my wife and mother. The reason we are on there was in case something happened to her she wanted us to be on there. She has now decided to claim bankruptcy. Me and my wife are looking to purchase our own home BUT WE ARE NOT ON THE MORTGAGE. Will we have problems purchasing a home if she does this? will the mortgage company come after us for the note or is there anyway we will have problems doing this?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 7 years ago.
If you're not the co-borrowers on the loan, you are not liable for the debt. If she files bankruptcy, it will not effect you financially.

However, if the lender forecloses, it will name you and your wife as a defendant because you have an ownership interest in the house.
Customer: replied 7 years ago.
so will it cause me problems buying a house becasue we signed for the house and i will be closing in November. does that mean that they can come after us for the loan?
Expert:  Roger replied 7 years ago.
It should not effect your ability to buy a house.

The creditor cannot collect against you.
Roger and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 7 years ago.
thank you for the answer. I was just concerned that some kind of public record would show up on my credit report.
Expert:  Roger replied 7 years ago.
No problem. Good luck.