How can you protect your equity in a home if your investment partner threatens to file bankruptcy ?
They are filing because of -40,000 credit card debt. I’ve chosen to stay in the house, they have decided to move out but still pay their half of the mortgages until the house is sold…Needing serious help in protecting my equity for my daughters college next year !
If it’s a joint ownership on the mortgage ( not title ), then the creditors can force a judgement against the house. Best option is to half the partner sign a quit release on the property. CONSULT AN ATTORNEY.
July 21st, 2010 at 1:03 am