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Co-applicant on mortgage

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    #1

    Co-applicant on mortgage

    I'm considering filing Ch7 BK. I got divorced 6 years ago and my X got to keep the house. My name is still on the mortgage for the house because he's too lazy to re-fi. I signed a quit claim deed at the time of the divorce, he makes 100% of the payments and has been current on his payments 100% of the time. It's in the divorce decree that he's responsible for the house, yada yaha. My question is, will my BK affect him in regards to the house in any way? I'll admit, part of me wants him to suffer some horrible consequences due to my BK but on the other hand, I AM concerned. Deep down, I really don't want him to lose his house, but only because he has 2 other kids and I don't ever wish anything bad to happen to kids. It's not their fault he's their father.

    Cat~
    Filed Ch. 7 - 11/30/06; 341 meeting 1/10/07; Discharged 3/19/07
    TU: 535
    Tags: None
    #2
    Probably not-though it will keep you out of hot water should he ever default/foreclose since your obligation on that mortgage will be discharged.
    Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

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      #3
      You need to contact the mortgage company - send copies of divorce papers and get your name off that mortgage....
      As long as your name remains on that mortgage, you are a part of that mortgage......
      When you file be sure you list that mortgage in the bankruptcy and get your portion discharged....... He can deal with the rest - because the mortgage company will force him to refinance or reaffirm the mortage i his name only.....
      Minny

      "It's amazing the paths that our feet sometimes follow in life".

      My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

      Comment

        #4
        The only way the mortgage company will take my name off is if he refi's so I guess he's SOL
        Filed Ch. 7 - 11/30/06; 341 meeting 1/10/07; Discharged 3/19/07
        TU: 535

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