Posted on: 26th Aug, 2008 09:52 am
My husband and I recently got divorced. I was left with the house because his name was not on the loan. However, his name is on the deed. I can not afford the house and have no option but to file bankruptcy. Will the mortgage company come after him even though his name is not on the loan?
Hi jaymefleetwoodctr,
Welcome to forums.
The mortgage company will not come after him as he's not on the loan. But yes if he'd like to retain the home, he'll have to pay. Otherwise the lender may foreclose the property if you don't negotiate for a workout plan as such.
"I can not afford the house and have no option but to file bankruptcy."
Why would you file bankruptcy when there are plenty of options available to keep your mortgage as well as the home? Just check out some of the loss mitigation options available with lenders. You may choose anyone from them and then negotiate with your lender for an approval.
Thanks
Welcome to forums.
The mortgage company will not come after him as he's not on the loan. But yes if he'd like to retain the home, he'll have to pay. Otherwise the lender may foreclose the property if you don't negotiate for a workout plan as such.
"I can not afford the house and have no option but to file bankruptcy."
Why would you file bankruptcy when there are plenty of options available to keep your mortgage as well as the home? Just check out some of the loss mitigation options available with lenders. You may choose anyone from them and then negotiate with your lender for an approval.
Thanks