Own a house with husband

August 28th, 2012 by Questions

We have a house with my husband but still in mortgage and no equity yet..I loss a job and can’t pay my credit cards and student loan.But my husband can pay our house mortgage.What happen to our house if I file a personal bankruptcy?

Posted from: Ontario


One Response to “Own a house with husband”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

As long as you have no equity in the property then the filing of a bankruptcy won’t have any impact on the property. If you do have equity this changes things dramatically as 50% of that equity would relate to you and would be realized on as part of the bankruptcy. But if there is no equity there is nothing that you would need to be concerned with.

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