Posted on: 30th Jul, 2010 10:51 am
having been divorced since 5/2010. my ex has kept the property and refuses to refinance. i have filed ch 7 and wondered if her credit will suffer because the mortgage is still in both names?
will ch 7 remove my financial responsibility from that mortgage?
must a deed transfer be done before the bk is filed?
will ch 7 remove my financial responsibility from that mortgage?
must a deed transfer be done before the bk is filed?
You and your ex-spouse haven't filed bankruptcy jointly. In that case, your ex-spouse's credit won't be affected due to this. As you've included the mortgage in your bankruptcy filing, you'll be discharged of your financial responsibility in paying off the mortgage. Your ex-spouse would become responsible for mortgage. It is better to not transfer the deed before bankruptcy as it may be considered as fraudulent.