They lied time after time and was not responsive. he ultimately had to file a bankruptcy to stop the sale of his property.

This usually occurs when the debtor has declared bankruptcy or the cost of pursuing further action in an attempt to collect the debt exceeds the debt itself.The debt is immediately written off by crediting the debtor 's account and therefore eliminating any balance remaining in that account.

My situation is that I don't have any money and I have a bankruptcy which was filed in 2005.

If the bankruptcy has not been officially "closed" then it will affect a short sale.

Single family houses are generally the most forgiving for a lot of reasons and therefore I always recommend starting with a few of those.You do NOT want to BUY BIG; lose all your capital; gain a bad reputation; and be forced into bankruptcy.

If you are deemed personally liable then all of your assets are at risk without adequate insurance.HomesInvestment propertiesBank accountsCDsStocksBondsMutual FundsIRAs (in some cases)401k (depending on the circumstances)FurnitureCarsJewelryYour wife's china, crystal and silverSure, you could declare bankruptcy, maybe, but you would still lose much of what you have to settle the judgment and any other debts.

Separation has no legal consequences where divorce does.Is bankruptcy an option?

I feel like this would help stabilize the housing prices and help stop the foreclosures and bankruptcies so that when the goverment buys up all these mortgages at least the houses will still be valued at the amount of the mortgage.

I manage a 42 unit complex that basically "we" (me and 4 board members) took over because of losses from foreclosures/bankruptcies in the 90's.

It's heartbreaking for her and her husband.She can avoid personal bankruptcy if the landlord does not try to recover the entire lease amount (through Dec 2009).