December 17th, 2012 by Questions
what happens to our jointly owned home if only 1 of us declares bankruptcy and there is no equity in the home. is the person that is not declaring bankruptcy the only one on title and the mortgage?
Posted from: Ontario
One Response to “home ownership/mortgage”
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December 17, 2012 at 10:00 pm, A licensed trustee said:
If there is no equity in your home it will not be affected in any way by one of you filing for bankruptcy. As long as the payments are kept up to date after you file, everything will remain the same as before you file.