Catarina, TX Bankruptcy Law Firms & Lawyers

In California, most mortgages are resolved by non-judicial foreclosure (sale of the property at auction). By taking that action, the lender does not have a deficiency claim against a co-signer. However, if there was a junior lien (2nd or 3rd) that was eliminated in a foreclosure, they could sue the co-signer. The co-signer should see an attorney so that the facts of this particular matter can be analyzed.

Unfortunately, you can't get the bankruptcy off your credit report. By law, credit reporting agencies have the right to report a bankruptcy for ten years from the date the case was filed. The bankruptcy is a part of your credit history - you don't dispute the fact that you filed for bankruptcy. Two years after bankruptcy is a very short time to expect to be obtaining credit and loans - especially considering where the economy is. Even if your credit was just okay, I doubt you would be able to get a mortgage loan at this point. Give it time, as your bankruptcy ages, it will have less weight on your credit score. Meanwhile, you should pay on time for whatever debt, bills you may have.