My question involves real estate located in the State of GA. My husband and I have two houses. (We were separated for about 4 years, but have gotten back together.) Due to the current economy, we are probably going to have to let one of the houses go. I am not on either mortgage, only my husband is on both mortgages, but we are both on title to both homes. If he did a quit claim for his interest in the house we would like to keep to me, would that prevent the mortgage company for the house we would need to let go from attaching to the house we would like to keep, as he would have no ownership in the house (but would still be the only one on the mortgage)?
We are trying to think of a way to avoid filing bankruptcy to prevent the mortgage company from going after this house, too. We really don't want to file bankruptcy, but cannot afford the 2nd house any longer, and real estate prices have fallen to the point that we owe more than the house in question is worth, so we cannot sell it. Thanks for any advice or suggestions.