Posted on: 24th Oct, 2008 07:19 pm
Hello Great site you have going here.
I have searched the forum and could not find anything specific to my situation. If I overlooked it I am sorry.
My ex wife and I have a mortgage on the house I was given in the divorce settlement. I have been working with the bank to get it refinanced but not done yet.
If she files for bankruptcy she told me her lawyer said that it will not affect me as far as the house goes. She said they will simply come after me to pay for it which I already do, have always done and will continue to do. She also said I would be able to file papers and have her taken off the mortgage and the deed.
Is this information correct if not what should I do. I am active duty military and can get free legal advice which I plan on doing, I was hoping for a quick response on here while I wait for Monday to roll around.
Thanks in advance!!!!
I have searched the forum and could not find anything specific to my situation. If I overlooked it I am sorry.
My ex wife and I have a mortgage on the house I was given in the divorce settlement. I have been working with the bank to get it refinanced but not done yet.
If she files for bankruptcy she told me her lawyer said that it will not affect me as far as the house goes. She said they will simply come after me to pay for it which I already do, have always done and will continue to do. She also said I would be able to file papers and have her taken off the mortgage and the deed.
Is this information correct if not what should I do. I am active duty military and can get free legal advice which I plan on doing, I was hoping for a quick response on here while I wait for Monday to roll around.
Thanks in advance!!!!
Hi Guest,
If your ex is unable to make payments, you can ask her to transfer the property to you. You can then refinance it in your name and become the sole owner of the property.
Presently, as your name is still on the mortgage deed, the lender can sue you for the payments if she is unable to pay them off. If she does not make the payments, the lender will foreclose the property.
Thanks
If your ex is unable to make payments, you can ask her to transfer the property to you. You can then refinance it in your name and become the sole owner of the property.
Presently, as your name is still on the mortgage deed, the lender can sue you for the payments if she is unable to pay them off. If she does not make the payments, the lender will foreclose the property.
Thanks
So iif she won't transfer it to me or refinance. Defaults on the payment, in order to save my credit, I have to continue making the payments. What rights do I have? I'm stuck making the payments and she gets to continue living there. I really don't want the house, from what I hear she has allowed 5 dogs to have the run of the place and she is a heavy smoker. It would cost me even more money to get it in saleable condition.
Sounds like this is going to cost me even more money that what was already ordered by the courts.
Sounds like this is going to cost me even more money that what was already ordered by the courts.
Hi Guest!
Welcome to forums!
As you have already signed the quit claim deed and transferred the property to your ex, you are not the owner of the property. However, as your name is on the mortgage docs, you will remain responsible for the mortgage. As she is the sole owner of the property, you can ask her to list the property in the market and sell it off and clear off the mortgage dues with the sale proceeds.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you have already signed the quit claim deed and transferred the property to your ex, you are not the owner of the property. However, as your name is on the mortgage docs, you will remain responsible for the mortgage. As she is the sole owner of the property, you can ask her to list the property in the market and sell it off and clear off the mortgage dues with the sale proceeds.
Feel free to ask if you've further queries.
Sussane
as part of divorce, wife was given property but i had to remain on mortgage as guarantor as she can't get a mortgage independently however i am going bankrupt. will my name come off the mortgage as guarantor?
I don't think your name will come off the mortgage as a guarantor just because you are filing bankruptcy. Depending upon the type of bankruptcy you are filing, you may have to reaffirm the debts.
My wife has lots of wager debts, that I refused to pay.
She left taking an almost new car, filed for divorce and now filed bankryptcy.
I had cashed in my retirement to buy a new house with the money. One year later I borrowed money to pay her credit card debts and buy a new car, getting a line of credit on the house. She promised to quit , banned herself from the boats. She started going across state lined to wager, accumulating the debts I refused to pay. Her son informes she has gotten fid of the new car, she has tried to get the bank to let her get some more money.
What is my recourse
Spencer in mo
She left taking an almost new car, filed for divorce and now filed bankryptcy.
I had cashed in my retirement to buy a new house with the money. One year later I borrowed money to pay her credit card debts and buy a new car, getting a line of credit on the house. She promised to quit , banned herself from the boats. She started going across state lined to wager, accumulating the debts I refused to pay. Her son informes she has gotten fid of the new car, she has tried to get the bank to let her get some more money.
What is my recourse
Spencer in mo
Hi Spencer!
Welcome to forums!
You are not obligated to pay your wife's debts. If your name is not mentioned on the loan documents, the lender will never be able to sue you for her debts. But if you are one of the borrowers of the loan, the lender has the rights to come after you. You can only ask your wife to refinance the loans in her name which will make her solely responsible for the payments.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You are not obligated to pay your wife's debts. If your name is not mentioned on the loan documents, the lender will never be able to sue you for her debts. But if you are one of the borrowers of the loan, the lender has the rights to come after you. You can only ask your wife to refinance the loans in her name which will make her solely responsible for the payments.
Feel free to ask if you've further queries.
Sussane
Have a friend who is going through a divorce - wife took off back to England once they decided to split... He intends to file for bk - does he need to include her on the bk - or can he file without her?
Hi Guest,
It is not mandatory for your friend to file bankruptcy jointly. Your friend can file bankruptcy alone. He can include his debts and assets in his bankruptcy filing.
Thanks
It is not mandatory for your friend to file bankruptcy jointly. Your friend can file bankruptcy alone. He can include his debts and assets in his bankruptcy filing.
Thanks
I filed bankruptcy to get myself off of bills that my ex and I have together. I got papers in the mail for some of our debetors, that state we both filed under my lawyer which is not true. My lawyer said not to worry about it, it's just because both of our names are on the loans. Does this mean that my ex will get out of these bill and walk away free and clear, even thou he didn't file?
Welcome Guest,
If you file bankruptcy alone and get your debts discharged, then you will not remain personally liable for the dues. However, if your ex is on the debts, then he will be liable for the dues.
If you file bankruptcy alone and get your debts discharged, then you will not remain personally liable for the dues. However, if your ex is on the debts, then he will be liable for the dues.
My Fiance and I are living in a house that he built for him and his family almost 10 years ago. We both got divorced almost 3 years ago and he was given the house in his divorce. When he got divorced not only was he given the house in the divorce but all of the bills that comes along with it and has to pay a ridiculous amount of child support a month. My kids and I moved in with him and we have been struggling to pay all the bills and take care of our kids. We have been trying to get the house refinanced but can't because of his credit. His ex is wanting her name off the mortgage and is thinking about bankruptcy. We are making the payments and have been for a while now but she is the primary borrower on the mortgage. If she files bankruptcy how will this affect us as far as the house goes? Will we loose the house even though his name is on it? We live in Kentucky and I am just trying to find some information out on this subject because we have four kids that depends on us and we can not afford to loose our house especially in todays economy.
Hi Guest,
If the ex files bankruptcy, she will get a discharge from the mortgage. Thus, she won't be liable for the mortgage payments. Your fiancé will be fully liable for the mortgage payments.
If the ex files bankruptcy, she will get a discharge from the mortgage. Thus, she won't be liable for the mortgage payments. Your fiancé will be fully liable for the mortgage payments.
Me and my wife are divorce , and we have a mortage in our name, what happens if she files bankrupy, i have told the courts that i don`t want to be bought out , i want the home sold, can she take the house from me.
Me and my wife are divorce , and we have a mortage in our name, what happens if she files bankrupy, i have told the courts that i don`t want to be bought out , i want the home sold, can she take the house from me.