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 steveultifitness!
Welcome to forums!
If your wife files bankruptcy, she will get a discharge and won't be liable for paying the mortgage anymore. You will be liable for the mortgage payments. If you let the lender foreclose the property, it will have a negative impact on your credit report and will lower your credit score.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your wife files bankruptcy, she will get a discharge and won't be liable for paying the mortgage anymore. You will be liable for the mortgage payments. If you let the lender foreclose the property, it will have a negative impact on your credit report and will lower your credit score.
Feel free to ask if you've further queries.
Sussane
my ex lives in the house we both bought, both of our names are on the lean/loan. he was told he needed to either refinance or sell the house to pay me the money he owes me. if i file chapter 7 what happens to the house? will my name automatically be taken off the loan/lean? and will he still have to pay me the money i was awarded in the divorce? the other problem i have is i do not know who owns the loan at this time. i was not allowed to access our paperwork when i was forced to leave. the house is not showing up on my credit report either. it's a huge mess. but i can't afford to pay my bills as i am disabled and unemployed. so i don't see any other option other than chapter 7 bankruptcy... i just need out of all of this debt.
Hi Claudia!
Welcome to the forums!
Your name may not be taken off the loan but you will get a discharge from it. You won't be personally liable for paying it anymore. You can ask your attorney to find out as to who owns the loan. He will help you get a way out in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Your name may not be taken off the loan but you will get a discharge from it. You won't be personally liable for paying it anymore. You can ask your attorney to find out as to who owns the loan. He will help you get a way out in this matter.
Feel free to ask if you've further queries.
Sussane
My ex is planning on filing bankruptcy in Il, but his name is still on the deed to the house i was awarded when we split, can they come after my house. there is no money owed on it he is only filing on a judgment for less then $3000. I dont want to lose my home, but it is my fault I never had his name taken off the deed. What are my options in this case?
Hi becky,
If your ex's name is mentioned on your property, then it will also be considered as his property. In that case, he may have to include it in bankruptcy filing. You should immediately contact a real estate attorney and take his opinion in this regard.
Thanks
If your ex's name is mentioned on your property, then it will also be considered as his property. In that case, he may have to include it in bankruptcy filing. You should immediately contact a real estate attorney and take his opinion in this regard.
Thanks
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