Saying Hello and ? About Unusual Filing Situation

[FreshStartin08]

Hello everyone. I was fortunate enough to find this forum and I've been doing a bit of reading. This sounds like a nice site filled with helpful people all in the same boat. Hopefully I will post a thread one day here too that says, "It's Over"

Anyway. I live in Maryland with my husband, brother in law and I have three children. We own a WWII era home that we bought and refinanced a few times that now sits with a $168K balance on a $172K loan. The houses in the area are being appraised at ridiculous amounts, I have a tiny cape cod in a neighborhood selling in the $210 range! So, My husband and brother in law are on the mortgage, I don't exist on the mortgage papers. I'm a stay at home mom and their credit scores 'were' much better.

We have accumulated ridiculous amounts of debt in the area of about $52K split about $29K and $23K between the two brothers. They are both listed on the mortgage and the deed. I sent them to credit counseling and they suggested chapter 7. They met with a lawyer and this man told my husband and BIL that he "didn't know if we could keep the house" and that they might take my car. Wow. This man wants $1K from each of them in addition to the $299 filing fees each and he doesn't sound like the brightest candle in the box.

I've been trying to read about homestead exemptions and equity/property values and frankly, I'm really confused. I know that their means test came in the negative with income, no disposable income at all and that Maryland doesn't have a homestead exemption. (I really hope I don't sound uneducated but I have some questions that I don't know how to ask). When you fill out the papers for what you own, what on earth are you supposed to put down for all this stuff? We are very modest, a blue collar family with nothing special. I don't have furs, jewelry or anything fancy and we don't have life insurance or big 401K accounts. We're living paycheck to paycheck.

My questions are, can they take my home? My gosh I live here with two special needs kids and my car is my only way to get them around while my husband works taking his car. Do the people come to your house to see if what you are claiming is real? This lawyer wants $2600 (including filing fees and $1K per person) with $1000 to "get started".

If I need to be looking elsewhere on the forum for answers, please point me where I need to go. I don't want to ask unnecessary things and I'm trying to find my way around. Thanks in advance for any help you might be able to give me.

[aachudneymiles]

Hello everyone. I was fortunate enough to find this forum and I've been doing a bit of reading. This sounds like a nice site filled with helpful people all in the same boat. Hopefully I will post a thread one day here too that says, "It's Over"

Anyway. I live in Maryland with my husband, brother in law and I have three children. We own a WWII era home that we bought and refinanced a few times that now sits with a $168K balance on a $172K loan. The houses in the area are being appraised at ridiculous amounts, I have a tiny cape cod in a neighborhood selling in the $210 range! So, My husband and brother in law are on the mortgage, I don't exist on the mortgage papers. I'm a stay at home mom and their credit scores 'were' much better.

We have accumulated ridiculous amounts of debt in the area of about $52K split about $29K and $23K between the two brothers. They are both listed on the mortgage and the deed. I sent them to credit counseling and they suggested chapter 7. They met with a lawyer and this man told my husband and BIL that he "didn't know if we could keep the house" and that they might take my car. Wow. This man wants $1K from each of them in addition to the $299 filing fees each and he doesn't sound like the brightest candle in the box.

I've been trying to read about homestead exemptions and equity/property values and frankly, I'm really confused. I know that their means test came in the negative with income, no disposable income at all and that Maryland doesn't have a homestead exemption. (I really hope I don't sound uneducated but I have some questions that I don't know how to ask). When you fill out the papers for what you own, what on earth are you supposed to put down for all this stuff? We are very modest, a blue collar family with nothing special. I don't have furs, jewelry or anything fancy and we don't have life insurance or big 401K accounts. We're living paycheck to paycheck.

My questions are, can they take my home? My gosh I live here with two special needs kids and my car is my only way to get them around while my husband works taking his car. Do the people come to your house to see if what you are claiming is real? This lawyer wants $2600 (including filing fees and $1K per person) with $1000 to "get started".

If I need to be looking elsewhere on the forum for answers, please point me where I need to go. I don't want to ask unnecessary things and I'm trying to find my way around. Thanks in advance for any help you might be able to give me.

yep they can take your home, car-- whatever you can not cover with exemptions .. you would need to speak with a lawyer about exemption and your hubby's and bil personal Situation.. anyways 1300.00 is about right ( I have seen more expensive actually I live in va and that cheap 1000.00 plus filing fees I wish more like 1600-1800 here plus filing) dont know what you expected but they are not married and can't file joinly.. if you and hubby filed it would be less because you can filed joinly.

[FreshStartin08]

I guess it was just a shock (the lawyer's fee) I filed way back in the day, no house, used car and it was like 500 with a small filing fee. I guess I'm a bit overwhelmed at having to give them everything in my bank account but that's the name of the game. Yes, I will be calling the lawyer tomorrow to get some more information about exemptions. I really don't understand that part of it. I know one of the cars we owe lots on, more than it's worth I'm sure and the other car is paid off and my only means of getting my disabled children around so I can't imagine losing it. What a mess. My home? It's just really scary perhaps after talking with the lawyer (I couldn't go and my husband and brother in law didn't exactly remember everything, so much info at once) he can put my mind at ease.

[millerc507]

I would suggest consulting with several attorneys prior to filing with a complicated situation such as yours. We had a complicated situation and used the first atty we spoke to. He had big ads on TV, etc. It was a huge mistake because he misled and us and made a mistake that in the long run cost us $15,000. Yes, we were able to save our house but had we waited 6 more months to file we would not have had any problems. Just get more than one opinion when there are assets involved. Good luck!

[FreshStartin08]

Thanks. I think what I am going to do is call at least 2 more attorneys, quickly go over the logistics of our situation and see what they say. It's just complicated with two unmarried owners and of course I want/need to keep my home. Just reading that home lenders don't have to accept a reaffirmation of the mortgage is scary enough. Maryland, my state, seems really tight with their exemptions too; NO homestead exemption at all.