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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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My Name is on the loan but my Husband name is on the deed.

Customer Question

My Name is XXXXX XXXXX loan but my Husband name is XXXXX XXXXX deed. Im looking to file BK to get rid of debt if i want to enter in the mortgage into my BK. Can I even though the deed is not in my name?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.

Hi JACustomer,

Yes - you can file a Bankruptcy and include the mortgage, even though your name is XXXXX XXXXX the deed. Doing this will eliminate your liability for the mortgage, so that the mortgage company can no longer try to collect the money from you.

If you file now, you must include the mortgage, because you must include all creditors (those you owe money to) when you file. However, even though you file, you or your husband can still make payments to the mortgage company, to avoid losing the house.

However, unless necessary, it is generally not a good idea to file a Bankruptcy until the house forecloses if there are HOA dues involved. The reason is that HOA dues that accrue after the Bankruptcy is filed and until the house is sold in a foreclosure do not get discharged, so that the debtor remains responsible for those.

I think this is what you wanted to know. If not, please let me know.

Thank you!