If two names are on mortgage and one files for bankruptcy, can the other lose the home? 6 Answers as of May 18, 2016

My husband and I filed chapter 7 bankruptcy a few years ago. My mortgage is in my name and my father as a co-signer before I got married. I thought I had a reaffirmation agreement, but just finding out I don't. I can't refinance to get the mortgage out of my dad’s name to mine, because of my credit and the bankruptcy. I have not being late making a payment in 6 years. What can I do to get my dad’s name off the loan and mine only?

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Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
Without the lender's agreement, you can only accomplish your goal by refinancing which you might be able to do (at a higher rate of interest)more readily than you think. Try more than one potential lender.
Answer Applies to: Wisconsin
Replied: 5/18/2016
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Sadly, refinancing is the only way for him to get off the loan. Have you tried a different lender? The one your loan is with currently will definitely not do it for you.
Answer Applies to: California
Replied: 5/10/2016
Law Office of Michael Johnson
Law Office of Michael Johnson | Michael Johnson
Can't but still make all payments and you will be fine.
Answer Applies to: Florida
Replied: 5/6/2016
Stephens Gourley & Bywater | David A. Stephens
Not as long as the owner keeps the mortgage current and the asset is exempt.
Answer Applies to: Nevada
Replied: 5/5/2016
A Fresh Start
A Fresh Start | Dorothy G Bunce
Your existing lender is unlikely to refinance because of your bankruptcy. It is usually company policy. Reaffirming was never an option because your mortgage company did not make you an offer to reaffirm, nor would any bankruptcy judge have approved such an offer. So blaming your bankruptcy lawyer is not productive. Your bad credit is what is preventing you from refinancing. Work to improve your credit and you will have options. Local credit unions often can refinance mortgage debt on more liberal terms than private mortgage companies.
Answer Applies to: Nevada
Replied: 5/5/2016
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    As long as you continue to timely make the mortgage payments the lender will not attempt to take the home. When your credit has improved you can then refinance and remove your father's name.
    Answer Applies to: Nevada
    Replied: 5/5/2016
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