bankruptcy mortgage debt
is it possible to file bankruptcy without including your first mortgage but including the second mortgage?
My husband and I are getting divorced. he left me with bills I can’t afford. I’m in danger of losing my home and I know I can afford to pay on the mortgage itself and the utilities with only my income but I couldn’t possibly afford a second mortgage payment too. I’ve been thinking of bankruptcy because he has everything behind and I am in debt I never knew existed. Is there any way for me to keep thje house without paying 2 mortgages? Any suggestions?
No, you have to either include or exclude ALL mortgages if it is applicable in your case. The amount of equity in your home determines whether the mortgage will be included or not. Seek legal guidance from an attorney who specializes in Bankruptcy Law – not all financial attorneys do, though they can file for you – before you decide to declare it. You’ll have to file and appear in the U.S. Bankruptcy Court in your state. Don’t do this on your own – definitely seek legal assistance regardless whether you file or not!
Link to US bankruptcy courts, Get info here & Choose your State
http://www.uscourts.gov/bankruptcycourts.html
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