I am a co-owner on a residence with my daughter and son-in law . All are on the first and second mtg . House is approx 100K upside down.I pay the first and claim the interest,son daughter pay second and claim interest. Do all of us have to file chap 7 or only me ,what are ramifications of this dual ownership especially as to means test ??? BTW I am 71 and retired .My only income is a 72K us pension .I have heard I am judgment proof so maybe I don't even need Bk ???? Any assistance would be appreciated .Mo mtg pmt is 2797 ..
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You may be judgment proof, idk, but if you stop paying the lenders will just go after your daughter and SIL. That's my take anyway. -
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We are intending to continue mtg payments . Bk would be for separately held ccs approx 74K. I was mainly concerned about means test and debt status of mtgs.Both mtgs are approx 4000 per mo. If 1 person files is it all claimed,if all 3 files should 1/3 go on each 22 ???Comment
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