Posted on: 19th Nov, 2013 08:13 pm
Hello!
After my divorce, my ex signed a quick claim deed for our home over to me. While I have the title to the house, both our names are on the mortgage, as I have not refinanced since I plan to sell within a year. I have been current on the payments. Now my ex is filing for chapter 7 bankruptcy in Tennessee. How will this effect me?
After my divorce, my ex signed a quick claim deed for our home over to me. While I have the title to the house, both our names are on the mortgage, as I have not refinanced since I plan to sell within a year. I have been current on the payments. Now my ex is filing for chapter 7 bankruptcy in Tennessee. How will this effect me?
Welcome Supermom,
As your ex is filing bankruptcy, he will get a discharge from the mortgage. He will not be liable for paying the mortgage. You will be solely responsible for paying off the mortgage.
As your ex is filing bankruptcy, he will get a discharge from the mortgage. He will not be liable for paying the mortgage. You will be solely responsible for paying off the mortgage.
Hi Supermom!
Welcome to the forums!
Yes, Adonis is right in saying so. You will become solely liable for the mortgage payments.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Yes, Adonis is right in saying so. You will become solely liable for the mortgage payments.
Feel free to ask if you've further queries.
Sussane
Thank you so much for your replies!
The loan is a VA Loan - which my ex was the primary account holder and I was the co-signer. Will the VA call the loan or just let me be the sole account holder after my ex gets his bankruptcy?
The loan is a VA Loan - which my ex was the primary account holder and I was the co-signer. Will the VA call the loan or just let me be the sole account holder after my ex gets his bankruptcy?
Hi Supermom,
If you qualify for the VA loan as per the lender's requirement, then he will allow you to take over the loan solely.
Thanks
If you qualify for the VA loan as per the lender's requirement, then he will allow you to take over the loan solely.
Thanks