QUESTION
Does this loss fall on me after Divorce and selling house and ex declared bankruptcy?
Asked on Jul 11th, 2013 on Bankruptcy - Florida
More details to this question:
I got a divorce this April and my ex and I were both listed on our home mortgage. I agreed to continue paying 1/2 the mortgage until we sell the house which is on the market and he continued to live in our home. He informed me yesterday after we received an offer on the home that he declared bankruptcy and he is not liable for any loss on our house, fees or closing costs per his bankruptcy lawyer. Thank you for your response.
8 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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He is not liable for the mortgage. You need to talk to your divorce attorney to see how to handle the sale of the house.
Answered on Jul 15th, 2013 at 10:30 PM
Since your ex has no legal responsibility to pay for the house, the entire debt now belongs to you and to the property itself.
Answered on Jul 15th, 2013 at 8:32 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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It depends on where you live and the law of that state. You might want to talk to a real estate attorney licensed in your home state.
Answered on Jul 15th, 2013 at 8:32 PM
Bankruptcy Attorney serving Seattle, WA
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The Law Office of Marc S. Stern
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He may not be liable to the lender. However, depending upon the type of bankruptcy he filed, he may still be liable to you for 1/2 of what you need to spend.
Answered on Jul 15th, 2013 at 8:32 PM
Deborah F. Bowinski
He is correct about not owing any more to the mortgage lender. Without reding the separation agreement from your divorce it is impossible to determine whether he has any further financial responsibility to you with regard tot e home.
Answered on Jul 15th, 2013 at 8:31 PM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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Much depends on exactly what the divorce decree says. It is important that you ask your divorce lawyer to discuss your options.
Answered on Jul 15th, 2013 at 8:31 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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You are still obligated to the bank even if your ex-husband filed bankruptcy. You remain liable if you signed the promissory note. If your husband filed a chapter 7, and if the divorce agreement provides that he is indemnifying you or holding you harmless, then you can still enforce his agreement to you to be responsible for the mortgage debt. Many are not aware that though the hold harmless agreement cannot be eliminated in a chapter 7, that it can be eliminated with a chapter 13 bankruptcy.
Answered on Jul 15th, 2013 at 8:31 PM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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There are a variety of options. Full sale, short sale, foreclosure, bankruptcy. Each option has factors that require discussion with an attorney familiar with each situation.
Answered on Jul 15th, 2013 at 8:31 PM