Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Bankruptcy question for person living in Ontario Canada? - My brother-in-law's house equity is approx 60000 and his debts are almost 103000. He is going thru soem really bad financial crisis and may go bankrupt. Will he lose his house? He is offering me to put a lien on his house in my name because he owes me almost 50000 of that debt . If he files for bankruptcy will he lose his house or will that lien on his house save him from losing his house ? I want to know if i will get any money back at all by doing it if in case he does file for bankruptcy and if he will lose the house or not.