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Bankruptcy Law/co-signer on 2nd mortgage
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Question
I'm a co-signer on my mother's 2nd mortgage. My mother can no longer support herself and I think her only option is bankruptcy. Do I still have to pay the balance of the 2nd mortgage or can it be discharged in the bankruptcy? What effect will this have on my credit?
As a co-signer on the mortgage you may still remain liable for the mortgage even if the debt is discharged in bankruptcy for your mother. The mortgage company can turn to you to repay the liability which in turn will likely affect what is reported on your credit report, ex: status 30 days late. If you need further assistance you can contact us through: http://www.socaladvocates.com
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Answers by Expert:
Norma Duenas - California Bankruptcy Attorney
Expertise
Norma Duenas is a California Bankruptcy Attorney representing clients in Chapter 7 and Chapter 13 consumer bankruptcy cases. Norma Duenas is the founding member of Southern California Law Advocates a consumer bankruptcy law firm. For further information you can visit us at: California Bankruptcy Attorney - Riverside, Los Angeles, & Orange County
Experience
Have filed over 350 consumer bankruptcy cases in Orange County, Los Angeles and Riverside. I have worked previously for Macey and Aleman, the largest consumer bankruptcy firm in the country. Currently I am the owner of Southern California Law Advocates, a bankruptcy law firm with offices in Orange County, Los Angeles and Riverside. Law offices is focused on consumer Chapter 13 and Chapter 7 bankruptcy.
Organizations
California Bar Association
American Bar Association
Riverside Bankruptcy Attorney
Education/Credentials
University of California, Irvine, BA in Criminology, Law and Society
California State University, Los Angeles MS in Criminal Justice
University of San Diego, Law School, JD Cum Laude
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