I need an EXPERT at personal bankruptcy law please…?

I live in Illinois where tenants of the entirety is legal for real estate. I currently have a very large amount of credit card debt 150K+ and a upside-down mortgage on my home. I also have about the same amount of assets in the market. All is in my name, not my wife.

Let me question you to place all proper issues up your sleeve for the moment.

Let’s say I was to place my existing home on the market and buy a new property. I used all of my existing assets to buy the new home and held title as tenants by the entirety with my wife.

I now have 2 homes, one on the market and one I live in. I have no liquid assets and 150K in credit card debt.

Six months later, my initially household still has not sold. I can’t afford payments on my cards and houses, I quit paying everything but my new primary mortgage (which is tiny because of the large down payment). Everything goes to collections and 12 months later I declare The boards 7 by myself.

Question: How does the court view my new primary residence with 150K in equity? Does tenants of the entirety trump all and I keep my home? Or does the court view my actions as intent to never pay back the debt and force sale of the home despite title?

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