Hello, My husband and I are heavily in CC debt. I
My husband and I are heavily in CC debt. I would like to follow the debt settlement route on my own with our various accounts. Of course, I would like to protect our assets as much as possible. Presently, we have two mortgages on separate proprieties that we are current on. The first is with our primary residence, -the is in both our names. The second is a vacation property in both mine and my mother's names (my husband,s name is not on the deed). My husband and mortgaged the vacation property to finance the down payment on our primary home. The possibility of selling the vacation property to reap a profit to settle our CC debt in this economy, is nil. My question is how can I protect this 2nd home from the Credit card people. Can they force us to sell the property or seize it even though it is jointly owned with another party? Should I just transfer the property wholly in my mom's name? he house in in Maine where I live and my mom lives in Massachusetts.
Thanks so much for your Help!