is it possible to file bankruptcy without including your first mortgage but including the second mortgage?

Question

My husband and I are getting divorced. he left me with bills I can't afford. I'm in danger of losing my home and I know I can afford to pay on the mortgage itself and the utilities with only my income but I couldn't possibly afford a second mortgage payment too. I've been thinking of bankruptcy because he has everything behind and I am in debt I never knew existed. Is there any way for me to keep thje house without paying 2 mortgages? Any suggestions?

Answer 1

No, you have to either include or exclude ALL mortgages if it is applicable in your case. The amount of equity in your home determines whether the mortgage will be included or not. Seek legal guidance from an attorney who specializes in Bankruptcy Law - not all financial attorneys do, though they can file for you - before you decide to declare it. You'll have to file and appear in the U.S. Bankruptcy Court in your state. Don't do this on your own - definitely seek legal assistance regardless whether you file or not!
Link to US Bankruptcy Courts, Get info here & Choose your State
http://www.uscourts.gov/bankruptcycourts.html

Answer 2

I'm a bankruptcy attorney in California. First of all, you must list all of your debts on your bankruptcy petition. Second, a bankruptcy will not get rid of the lien the second mortgage holder has on your house. A bankruptcy might buy you some time to get caught up or sell your home, but it will not eliminate the either mortgage.

You should consult your divorce lawyer. There might be a way to force your husband to take responsibility for some of this debt so that you can keep the house depending on the laws of your state.

Answer 3

while submitting financial disaster all your components alongside with your place would desire to be documented. quite lots each little thing which you own. this is accomplished in a count to waive all your astonishing liabilities.

Answer 4

maybe, consult a lawyer