Posted on: 14th Jan, 2010 11:03 am
I have house which the deed is in my name. My ex husband (husband at the time) took a 2nd loan out against the house in his name. He has now filed for bankruptcy. I have been making payments on the 2nd mortgage in fear that I would lose my house.
After he filed for bankruptcy the 2nd mortgage holder offered to me to settle the mortgage for about 30% of what he owes. The creditor never filed in court against him because I have been making payments on time. Do I even need to pay the loan. Can they come after my house? If so, can I settle for the lower amount even though I am not on the loan?
After he filed for bankruptcy the 2nd mortgage holder offered to me to settle the mortgage for about 30% of what he owes. The creditor never filed in court against him because I have been making payments on time. Do I even need to pay the loan. Can they come after my house? If so, can I settle for the lower amount even though I am not on the loan?
if they offered to settle for 30%, i don't think you need to question if you can do it. take their offer and run with it - you won't have this option forever, and the alternative is that you continue to pay it or they began an action against you.
they certainly cannot "come after your house" without cause. you're paying the debt, so they have no cause.
they certainly cannot "come after your house" without cause. you're paying the debt, so they have no cause.