I am filing for bankruptcy in Canada due to a failed business in my name. My husband and I own our home together. The bankruptcy trustee is not interested in the home as there is no equity in it. How will the mortgage be affected since I am filing for bankruptcy and my husband is not and continuing to pay the monthly mortgage? Will there be a problem or should things just continue on in just my husband's name?How will Bankruptcy Affect My Mortgage?
If you are filing a Chapter 7 simply all them to sign a reaffirmation as soon as possible.
Good Luck!How will Bankruptcy Affect My Mortgage?
You can't just remove yourself from the mortgage. I have to be honest, I am interested in knowing what happens when you have open accounts and file bankruptcy. Which bankruptcy chapter are you choosing?
I'm not sure if it differs in Canada, but in the US it will not affect your mortgage. The same thing goes for car payments. Really the only thing affected by the bankruptcy are the things you list in the bankruptcy. We went through one several years ago and had no problems with our mortgage and car.
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