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mortgage cosigner

My husband bought a house before we got married which we now rent…I bought a house for us to live in which he cosigned the mortgage for, as I don`t make that much. So since his tenants aren`t paying and we can`t afford 2 mortgages…will I or my `our` house be effected if he claims bankruptcy? I am making my payments no problem and have R1 credit.

Posted from: Ontario

One Response to “mortgage cosigner”

A licensed trustee said...

Look at the answer to the question that follows this one about equity. If there is equity in the house you live in and your spouse files for bankruptcy there may be issues.