How do I list HELOC and Mortgage in this case?

[rhp]

I am listed as a co-debtor on a HELOC after my divorce, but not listed on the 1st mortgage. Am I correct in listing this HELOC on Schedule D, as a secured debt, even though the house isn't mine?

And do I list the 1st mortgage (that's only in ex's name) when I file, just in case? I'd hate to have it come back on me somehow.

What a mess. I owe 180k on a house I don't have.

[tcreegan]

Hi rhp,

You got it right that the HELOC goes down as a secured creditor. Even if it is not in your name, the lender will have a lien on the property that makes them secured.

You can list the 1st just to be sure, just don't use it for expenses anywhere. Personally, I would list it but put a notation underneath that "I cannot verify that I am or am not a co-debtor for this debt" For the amount I would put [unknown]

The lender gets the BK notice, when they check and see you aren't on the note, the BK notice goes in the round file.

But....I am not an attorney!! Just my opinion, for what thats worth....

Tom in Colo

[rhp]

Hi rhp,

You got it right that the HELOC goes down as a secured creditor. Even if it is not in your name, the lender will have a lien on the property that makes them secured.

You can list the 1st just to be sure, just don't use it for expenses anywhere. Personally, I would list it but put a notation underneath that "I cannot verify that I am or am not a co-debtor for this debt" For the amount I would put [unknown]

The lender gets the BK notice, when they check and see you aren't on the note, the BK notice goes in the round file.

But....I am not an attorney!! Just my opinion, for what thats worth....

Tom in Colo

Thanks, Tom. Sounds like what I'll do.