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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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chapter 7 was granted On schedule F : (reads) : Mortgage loan $24.000.00 debtor transfe

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chapter 7 was granted
On schedule F : (reads) :
Mortgage loan $24.000.00
debtor transfererd title to son QCD.
Debtor not on title but remain on mortgage.
Q: Debt should be paid ? who is suppouse to pay.?

cfortunato :

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

cfortunato :

Is son's name on the mortgage?

Customer:

no

cfortunato :

Then no one is legally liable to pay the mortgage, since it was discharged in your Bankruptcy.

cfortunato :

However, if the mortgage is not paid, the mortgage company can foreclose the property.

Customer:

if i dont pay can loose the property..????

cfortunato :

Yes - if no one pays, you can lose the property - because the mortgage company still has a lien on the property. A Bankruptcy can discharge the debt, but cannot remove the lien.

Customer:

Thanks a lot, good help

Customer:

Bye

cfortunato :

You're welcome!

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