I co-signed a promissory note for a business that my ex-husband started. His business got into financial trouble and he stopped paying on the note and has since filed bankruptcy. The bank sued me and now has a $68,000 judgment against me that was entered in September 2009. I remarried in October 2008. Our primary residence he owned before we got married, but we have since sold it and bought another house in his name only. We have not declared the primary residence as our homestead and he only paid 10% down on it. New husband also bought some property in February 2009 by borrowing against his 401k. We have since made major improvements to the property and if I file bankruptcy, I am worried that the trustee will go after it. The other property has no liens on it, so should we declare this the homestead? We have not declared the primary residence as a homestead. Would that protect it?
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Filing single-how to protect 2nd home
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