QUESTION
If my husband is losing our home during the divorce, will it affect me?
Asked on Oct 19th, 2011 on Child Custody - New Jersey
More details to this question:
My husband had purchased a home while we were married. He insisted I stay off the mortgage and everything else to do with it. He has now been sent to the attorneys twice for lack of lot rent payment. What are the repercussions for me now that we are ready to file the divorce? I will be filing bankruptcy once the divorce is complete.
12 ANSWERS
Bankruptcy Attorney serving North Olmsted, OH
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James F. Lentz Attorney & Counselor at Law
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You have too many issues to handle here.
Answered on Jul 08th, 2013 at 8:14 PM
Divorce Attorney serving Little Rock, AR
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Law Office of Kathryn L. Hudson
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If your name is not on the mortgage you cannot he held liable as the debt is not yours.
Answered on Oct 21st, 2011 at 12:10 AM
If you are filing bankruptcy for other debt reasons, then the foreclosure will not affect you. It would potentially affect you on credit, but sounds like he kept your name off all the documents. Either way, the bankruptcy will wipe out an potential issue there.
Answered on Oct 20th, 2011 at 1:48 PM
If he loses the house, obviously you also lose any interest you may have in it. If he is doing this on purpose, you should ask the divorce court to intervene and make him pay. If he is doing it because he simply can't pay, then it is makes no difference if this house is lost during the marriage or after the marriage - any interest you have in it would be lost anyway. If you are not a signer on the mortgage, it is actually in your favor because you do not owe that money. The bankruptcy will clear out any other debts you have and you can start on a fresh page
Answered on Oct 20th, 2011 at 1:44 PM
If your name is not on any loan documents, your credit should not be affected by his failure to pay.
Answered on Oct 20th, 2011 at 12:53 PM
Glen Edward Ashman
Since neither divorce nor bankruptcy is a do it yourself project, you should have a lawyer who can review the details and determine what you can and should do. If you do not already have counsel, get counsel. In fact, doing bankruptcy and divorce in the wrong order can be a mistake.
Answered on Oct 20th, 2011 at 12:38 PM
Probate Law Attorney serving Colorado Springs, CO
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John E. Kirchner
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There is no simple answer to your question. Regardless of whose name is on the mortgage or the title to the home, it is considered marital property and the loan is a marital debt. Marital property and marital debts are allocated between spouses based on what is "fair" and there are no simple rules defining what is fair. If you and your spouse cannot agree on what is "fair", a judge will have to do that after considering all the evidence and arguments. If you are not on the loan, the mortgage company cannot come after you directly; but, that is not the same thing as how a divorce court might decide things simply between you and your husband.
Answered on Oct 19th, 2011 at 11:21 PM
General Civil Trial Practice Attorney serving Beaverton, OR
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Vincent J. Bernabei, LLC
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This will not affect your credit and you are not liable for the mortgage debt.
Answered on Oct 19th, 2011 at 5:56 PM
Steven D. Dunnings
The bankruptcy is more likely to have a negative effect than the situation you're worried about.
Answered on Oct 19th, 2011 at 4:07 PM
If it is not in your name then you may not have any or much repercussions b/c it is his debt. However, because it was purchased during the course of the marriage he can ask that you share in the debt but that can be a negotiating tool during the divorce.
Answered on Oct 19th, 2011 at 3:28 PM
Mediation Attorney serving Bloomfield, NJ
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Cassandra T. Savoy, PC
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You will likely be named in the foreclosure complaint if the bank knows of the marriage. You may not be named on the mortgage, but your partnership may be acknowledged in other closing documents.
Answered on Oct 19th, 2011 at 3:27 PM
Gary Moore
If you are not named on the mortgage, the lender will not be seeking to enter judgment against you on the loan, although you will be named in the foreclosure complaint for purchases of extinguishing any claim you may have to thel property as the spouse. In the divorce, you may be request to take responsibility for paying half of the mortgage loan because it is a debt acquired during the marriage. That may may or may not happen.
Answered on Oct 19th, 2011 at 3:10 PM