Posted on: 15th Jul, 2010 11:36 am
we are being divorce process, my ex-husband file bankruptcy chapter7 ,i stopped pay mortgage loan since july , 2009.... and now, he would propose the settlement that is " all his interest from the house is to transfer to me " as long as i will not sue his faulty signature on home equity loan .... please let me know his bankcruptcy effect me as co-owner or not ? and what should i need to do to avoid paying his debts in the house
Welcome totuyet,
You haven't filed bankruptcy jointly with your ex-husband. In that case, his bankruptcy filing will not affect you. However, he will be discharged of his liabilities regrading the mortgage on the property. In that case, if your name is on the mortgage and the property, then you would be solely liable for paying off the mortgage dues.
You haven't filed bankruptcy jointly with your ex-husband. In that case, his bankruptcy filing will not affect you. However, he will be discharged of his liabilities regrading the mortgage on the property. In that case, if your name is on the mortgage and the property, then you would be solely liable for paying off the mortgage dues.
What 's about home equity lien on mortage and his name removes from the deed of house .... Is it bad , right ?