Posted on: 07th Mar, 2012 04:22 pm
I am divorced.. The deed is in my name. The mortgage is still in both our names. The mortgage is current. My ex is wanting to file for bankruptcy. How do I find out if there is a provision in the contract which allows them to "call the loan"? If so, is there anything I can do to change this in my favor. I would think as long as payments are made, they would let me continue to do so.. Any advice. Living in Michigan, mortgage with Chase.
They actually offer competitive mortgage rates and can be a smart approach to reducing your overall borrowing costs.
:idea:
:idea:
Hi jolynsw!
Welcome to forums!
You will have to go through the loan docs in order to find out whether or not it mentions a clause which gives the right to the lender to call the loan due. If your ex includes the mortgage and the property in his/her bankruptcy filing, then the lender may not allow you to make the payments. However, you may liable for the payments later on as your ex will get a discharge from the loan payments due to the bankruptcy filing.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to go through the loan docs in order to find out whether or not it mentions a clause which gives the right to the lender to call the loan due. If your ex includes the mortgage and the property in his/her bankruptcy filing, then the lender may not allow you to make the payments. However, you may liable for the payments later on as your ex will get a discharge from the loan payments due to the bankruptcy filing.
Feel free to ask if you've further queries.
Sussane
As long as you are not in default of the mortgage, you should be okay. If you want to go to the creditors' meeting, it is your right and privilege. But, unless he owes you money and you want to assert some sort of claim, there really isn't a reason to go, assuming that you have something else to do with your time.
You don't have to do anything in terms of legal proceedings, unless and until the mortgage company takes some action. If you are current on your payments and have the insurance required under the mortgage, I doubt that they will act, since the last thing that they need is another foreclosed home at the moment.
You don't have to do anything in terms of legal proceedings, unless and until the mortgage company takes some action. If you are current on your payments and have the insurance required under the mortgage, I doubt that they will act, since the last thing that they need is another foreclosed home at the moment.
No issue with the answer but you do express a discriminatory bias.—“unless HE owes you …â€
The original question was so carefully structured so as to be gender neutral that I suspect it might be a “class project†on gender bias. You may have been outed.
The original question was so carefully structured so as to be gender neutral that I suspect it might be a “class project†on gender bias. You may have been outed.