Hi there. My husband and his brother had a house together. When we married in 2002, my husband stopped making house payments. The agreement was if and when there was money in the house, my husband would receive some sort of payoff. The short of it is we will never see any money and we would never force his brother to move. We've just accepted that we are "walking away" from any equity compensation. We are in the process of losing our house and we are considering filing BK. We were hoping to file Chapter 7 however we were told that because we just removed my husband from the deed in Feb. 08 that the BK courts would go after the house. Is there any way around this? We were told by our attorney that we are forced to file Chapter 13 to protect the house (in which we'll never see a dime). One thought we had was could we draw up a agreement where his brother would pay us a small monthly payment plan? Does anyone know if this might be a way to file Chapter 7 without putting the house at risk? Any ideas would be much appreciated.
Thank you,
Deb