Posted on: 04th Mar, 2012 02:08 pm
i have been divorced for 8 years. after the divorce, ex signed a quitclaim to give me the house and all the equity. i was advised not to refinance as i would not have qualified on my own. i recently called my bank to arrange to sell some property adjoining my residence. i was told my house was in chapter 7 bankruptcy as ex had filed for chapter 7 in 2010. i was in shock. i was nevernotified by the bank or anything. i have made all my payments in a timely manner and have great credit. what do i do now. the bank said he had to affirm the debt which makes no sense to me. any advice?
Hi CD,
As the mortgage is in your ex-spouse's name, he had to list the debt in his bankruptcy filing. Now that the property is in bankruptcy filing, you won't be able to sell it off unless the bankruptcy filing gets discharged. You should contact a real estate attorney and take his opinion in this matter.
As the mortgage is in your ex-spouse's name, he had to list the debt in his bankruptcy filing. Now that the property is in bankruptcy filing, you won't be able to sell it off unless the bankruptcy filing gets discharged. You should contact a real estate attorney and take his opinion in this matter.
Hi CD!
Welcome to forums!
It would have been better if you could have refinanced the mortgage once the property was transferred in your name. This would have helped you in saving the property from foreclosure. As the mortgage remained in the name of your ex, he has the right to include it in his bankruptcy filing and get it discharged.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It would have been better if you could have refinanced the mortgage once the property was transferred in your name. This would have helped you in saving the property from foreclosure. As the mortgage remained in the name of your ex, he has the right to include it in his bankruptcy filing and get it discharged.
Feel free to ask if you've further queries.
Sussane