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Financial Relief Law Center

Can I Save a Home that I Inherited but that I am Not on the Loan

The general answer is that a client (Debtor) may be able to use bankruptcy reorganization to save a home from foreclosure that he or she is not liable on the loan.  The way to do this is through a reorganization in either a Chapter 11 or a Chapter 13.  This situation arises when you as the client inherit a home or parcel of real property that you want to salvage from foreclosure.  Although there is no definitive 9th Circuit case law on it, other jurisdictions allow it and our office has had positive experiences with the tactic working with smooth confirmations of reorganization plans.