Can I file bankruptcy on the house so that I can take my name off the mortgage? - Bankruptcy Law Questions and Answers- LawQA.com

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Can I file bankruptcy on the house so that I can take my name off the mortgage?

My ex-husband was supposed to refinance our house into his name and pay me half the equity in the divorce settlement. He was never able to refinance and my name is still on the loan. He has not made a payment on the house in over two years. This has ruined my credit and continues to ruin it. I would like to know if I can file bankruptcy on the house so I can get my name off of the mortgage?

Answer By Jeffrey Solomon
Law Office of Jeffrey Solomon
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You would discharge the debt on the mortgage if you filed bankruptcy.

Answer Applies to: Florida
Replied: 6/1/2012

Answer By Harry D. Roth

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You have no personal liability for the house note now. The only thing the lender can do is report to the credit bureaus and foreclose. You don't need to file bankruptcy and bankruptcy will hurt your credit even more than it already has been hurt. Filing bankruptcy will not take your name off the credit and you don't need a bankruptcy to stop the bank from collecting money from you. You need to go back and look hard at the final order from the divorce court. See exactly what it says about the house equity and your money. If the order says that Husband gets the house and Husband has to pay Wife $XXXX, he still owes you $XXXX. If the order says half the equity in the house, then half of nothing is nothing and that's what you get. If there is still equity in the house after 2 years of no payments and this market, then you should go back to the divorce court and ask the judge to kick him out of the house, put you in charge of the house so you can sell the house.

Answer Applies to: California
Replied: 5/31/2012

Answer By Alvin Lundgren

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You can file bankruptcy to avoid the mortgage, but it may not be the best solution. Consider some of the following: 1. File and order to show cause why your ex should not be held in contempt of court for his failure to pay the mortgage. 2. Contact all 3 major credit bureaus and file a letter of explanation regarding the mortgage.

Answer Applies to: Utah
Replied: 5/30/2012

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
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Bankruptcy will relieve you of the personal liability on the loan. You will still own it however until it is foreclosed.

Answer Applies to: California
Replied: 5/30/2012

Bankruptcy Law office of Bill Rubendall
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If the only reason you have to file bankruptcy is to remove your name from the house there are some things you should know. Filing bankruptcy does not remove your name from house. Foreclosure would be the normal way to get your name off the house. It is better to let the house be foreclosed than to file bankruptcy and then have the house foreclosed.

Answer Applies to: California
Replied: 5/30/2012

Charles Schneider, P.C.
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Your name will not be off the mortgage. It will be off the debt created by the promissory note.

Answer Applies to: Michigan
Replied: 5/30/2012

Answer By Edward M Olson

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Any petition in bankruptcy includes all your assets and liabilities. If you obtain a discharge, the lender would be prohibited from taking any action to collect the debt from you. However, the terms of the agreement do not change. Your name is still on the mortgage, the lender is just prohibited from taking action against you.

Answer Applies to: Michigan
Replied: 5/30/2012

Answer By Steven Alpers

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Bankruptcy will not get your name off of the debt. They can't come after you because a house is secured by the land. Can you refi and get your husband off? You might be able to get the finance company to make a deal with you. You could then deduct money from his share of the house, if any equity is left.

Answer Applies to: California
Replied: 5/30/2012

Answer By Dan Wilson
Dan Wilson Bankruptcy
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BK will discharge your personal debtthe promissory note. Your name will stay on the mortgage until house is sold at foreclosure sale.

Answer Applies to: Colorado
Replied: 5/30/2012

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