Can I file chapter 13 to stop a foreclosure on a house that I only have community property rights.

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Can I file chapter 13 to stop a foreclosure on a house that I only have community property rights.

My wife and i bought a home a few years ago during the hot real estate market. It is now in foreclosure and facing a public auction next week. We tired to modify the loan to make it more affordable but the bank ignored us. Since my credit was damaged at the time of purchase it was bought using only my wifes name. She is ineligible to file a chapter 13 to save the home as she ownes 2 other homes that puts her over the allowable secured debt limit. My question is since California is a community property state do I have any ownership rights that would allow me to file chapter 13?

Asked on June 3, 2009 under Bankruptcy Law, California

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I'm not a California attorney, and I don't practice in a community property state at all, so I don't know the answer to this.  But it doesn't sound worth doing, even if the stay would block next week's sale, unless you have a buyer lined up or think you can get one quickly, for at least the amount of the loan balance and the court costs.  The lender would file a motion to have the stay lifted, as to that property, and that motion would probably be granted, and the sale would happen shortly after that.

Please take all the facts of your case to an attorney in your area, for reliable advice.  The details do matter!  One place to find a lawyer is our website, http://attorneypages.com


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