mortgage and bankruptcy

[chandler]

my ex husband just filed Ch 7. He is court ordered to pay the first and second mortgage on the marital home. Additionally he owns a home of his own with a mortgage. I live in the marital home and the home is now titled to me but the loans are in his name only (first mortgage) and both our names (second mortgage).


QUestion is - Is the second mortgage considered a secured or unsecured debt. It is a 400,000 home with a first mortgage od 150,000 and a second of 50,000.

I am afraid he may be converted to a 13 because he failed the means teat and I saw a statement on the bankruptsy site that they are considering presumed abuse.



Since my name is on the second mortgage will I be expected to pay for it even if he is ordered by the domestic court to pay and he gets it discharged?

[HHM]

The bankruptcy cannot discharge your ex's responsibility to pay the mortgages under the divorce.

Strictly speaking, he will be discharging his obligation to the banks, but because their is a divorce decree that says he must pay, if he stops, you may go back to family court and hold him in contempt.

If your name is on the second mortgage, vis-a-vis the BANK, you are on the hook. If your ex were to stop paying, the bank can legally pursue you for it and potentially foreclose.