Posted on: 16th Nov, 2010 01:22 pm
my ex husband was responsible for payment of the second mortgage against the home that i reside in and it is now delinquent. the lender is willing to settled the debt. would i qualify for the mortgage debt forgiveness debt relief act? also the debt is still in both our names, if this charge off debt is counting as income, how will it be divided?
Hi hmiddleton,
As it is a second mortgage on your property, I doubt whether or not you'll qualify for Mortgage Debt relief Act. If both your names are on the mortgage, then both of you'll be liable for paying off the dues. The amount can be equally divided between both of you.
As it is a second mortgage on your property, I doubt whether or not you'll qualify for Mortgage Debt relief Act. If both your names are on the mortgage, then both of you'll be liable for paying off the dues. The amount can be equally divided between both of you.