| My husband and I live in Louisiana. In his divorce settlement two years ago, he "gave" the house to his ex. The mortgage is in both their names and at the time of their divorce a 2nd mortage was in both their names. (Yes, we know what he should have done, but he didn't) Anyway, ex filed chap 13 last year and has been forced to file chap 7 (didn't make payments, etc.) Some time after divorce ex refinanced 2nd mortgage, so that's in her name only and my husband is not responsible for payment on it.
We realize by her filing chap 7, that my husband is now responsible for 1st mortgage. However, if we try to sell the house, do we have to sell it for the full amount owed ($72,000) or can we sell it for something less than that and satisfy the first mortgage ($45,000)which husband is responsible for. Our problem is that the house, as is, is not worth $72,000 and we're afraid we won't be able to sell it for that amount. Thanks.
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02-18-2001, 04:56 PM
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