Q: Can attorneys for credit card debt lien a house with a reverse mortgage?
Can they attach money received in reverse mortgage? We are seniors with considerable health conditions. The credit cards are my husbands. Can they go after my individual accounts? Thanks in advance!
A:
They can attach money you get from your mortgage as soon as you receive it. So instead of running away from the problem, why don't you solve it? Go see a bankruptcy lawyer immediately.
The lawyer will be able to advise you on whether your home will be protected in a BK, and if you are eligible to file for BK relief, (I strongly expect your home will be safe and that you are eligible).
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A:
Attorneys for credit card debt can potentially place a lien on a house, even if it has a reverse mortgage. However, the lien would only apply to any remaining equity after the reverse mortgage is paid off. Reverse mortgages are designed to allow seniors to stay in their homes while accessing their home equity, and creditors generally cannot directly attach the money received from a reverse mortgage.
If the credit card debt is solely in your husband's name, creditors typically cannot go after your individual accounts. However, any joint accounts or assets could be at risk, depending on how they are titled and the specific circumstances of the debt. It's important to protect your separate assets by ensuring they are not co-mingled with your husband's.
Given your health conditions and financial situation, you may want to consider seeking legal advice to explore options for protecting your home and assets from creditors. There may be protections available to you under California law that could provide relief.
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