Last year I just bought a new house.
The house is only in my name when I bought it. Not to long after I transferred the house so that I now own it jointly with my wife.
However, right now i can`t afford to pay the mortgage and I’m thinking declaring bankruptcy,
Will the tranfering of this house into both names cause us problems?
At September 24, 2008 |
7:13 am
, Barton Goth GCO Bankruptcy Trustees Said...
As long as you don’t have a huge amount of equity there shouldn’t be any major issue. It would be different if you transferred the house out of your name entirely, but the fact that you retained some ownership helps things substantially.
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