Q: Three years ago was involved in a divorce in California. In the marriage settlement agreement we both agreed to take
one house and be 100 percent responsible for the payments, as we had 2 homes together. At the time we could not refinance one of them as it was upside down, so we are both still on both mortgages. I have since become unemployed and I am facing foreclosure on my property. I am now starting a bankruptcy and couldnt afford an attorney and not 100 percent sure what options I have. My residence is valued at 200,002 and I owe 121,000. Her residence is valued at 385,000 and owes 420,000. She is current and is not filing bankruptcy. Is there a way for me to use exemptions to keep both properties? Even better is there a way to not have her residence in the bankruptcy process at all? I just dont want her and my kids to suffer or have house taken because of my employment issues. She has already taken a hit on her credit report. Any support would be greatly appreciated. This is the only issue at this time that is stopping me from filing.
A: You need specifically tailored legal advice from a local bankrutpcy attorney, not just general information about bankrkuptcy.
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