Posted on: 19th Nov, 2009 07:12 am
My husband and I are headed for divorce, he is wanting to file Chap 13 bankruptcy and include the mortgage, which is in his name only, before the divorce papers are filed. Both our names are on the deed. Can he do this and cause my children and I to lose our home?
My credit is very low and there's no way I can get a loan to take over the mortgage.
My credit is very low and there's no way I can get a loan to take over the mortgage.
Hi zatoga,
As the mortgage is his name, he will be able to include the mortgage in the bankruptcy filing. As he is filing Chapter 13, the lender will not sell off the property to recover the dues, he will give a payment plan to your husband. The payments towards the mortgage should be made according to that plan. Thus, the property will be saved.
Thanks
As the mortgage is his name, he will be able to include the mortgage in the bankruptcy filing. As he is filing Chapter 13, the lender will not sell off the property to recover the dues, he will give a payment plan to your husband. The payments towards the mortgage should be made according to that plan. Thus, the property will be saved.
Thanks