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Advice Please!
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Posted by JLL in Michigan (152.160.7.58) on October 16, 2002 at 15:35:42:
An injury put my husband out of work for almost 4 years. We've been through all of our savings, etc. & are pretty much at the end of the rope. I'm considering single or joint bankruptcy, but have one question. We own a home jointly--basically no equity--has both 1st & 2nd mortgages. We do though jointly own a piece of vacant property worth about $12,000--free & clear. In a bankruptcy, is there any way we can keep the property? If instead, we just let things go & creditors sue & file judgements against us, can we be forced to sell the property? Thanks for any help!
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