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House transfer, then bk?

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    House transfer, then bk?

    I was wondering how it would work if a house was transferred solely into my name and then I file bk? The mortgage is way upside down.

    Is that considered fraud because we'd be letting it go into foreclosure anyway?

    How long would I have to pay the mortgage on the house so that it wouldn't be considered a fraudulent transfer?

    Is there a better way to do this?

    thanks!

    #2
    Originally posted by twuoo View Post
    I was wondering how it would work if a house was transferred solely into my name and then I file bk? The mortgage is way upside down. Is that considered fraud because we'd be letting it go into foreclosure anyway?
    Who is the "we" here? And you said "a house" - is it a house you are not living in currently? Why does this other person want to transfer the house solely to you? And do you want them to?
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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