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01-04-2006, 10:53 PM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | can my ex file bankruptcy on my home?
What is the name of your state? TN
I have been divorced for almost 5 years. My ex husband filed a quit claim when we divorced, and I have lived in the house and made all payments since the divorce. He moved to another state (AL), has recently filed bankruptcy on the home, and never told me anything about it. I found out when the mortgate company was threatening foreclosure. I have found out now, (too late), that I should have had the home refinanced when we first divorced, but I didn't know that and didn't do that. Now the mortgage company will not let me attempt to refinance because according to them, the home is in "bankruptcy status". Their only suggestion is to look at refinance with an outside source, but being a single mother with 3 kids, working part time, and going to school, there is no outside source that would consider me a good risk. I have worked very hard for the past few years to clean my credit up, and have just recently paid off all the debt that was awarded to me in the divorce. Now, my credit report looks as if I have filed bankruptcy because my social security # is still linked with his. What are my options??? Also, he continues to carry a life insurance policy on me with himself as the beneficiary. Is this legal????? Please help. |
01-05-2006, 10:45 AM
| | Member | | Join Date: Jun 2005 Location: Tallahassee, Florida
Posts: 95
| | | Go to your Mortgage lender in person and bring with you copies of your divorce and QCD. If you made all the payments, you sould have nothing to worry about.
It seems to me you could challenge any 'links' in credit with the reporting agencys. Good luck. |
01-05-2006, 10:48 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote: |
Originally Posted by rosier2000 Go to your Mortgage lender in person and bring with you copies of your divorce and QCD. If you made all the payments, you sould have nothing to worry about.
It seems to me you could challenge any 'links' in credit with the reporting agencys. Good luck. |
**A: hello, not true. The writer is on the mortgage and the divorce and quit claim deed mean nothing to the lender. |
01-05-2006, 12:05 PM
| | Senior Member | | Join Date: Feb 2005
Posts: 3,359
| | | Your only option here is the outside lender refi. Since you have good equity in the house (lived in at least 5 years), and have little debt, the only blemishes on your credit are the bankruptcy and the lack of income.
The bankruptcy can be explained to banks that you apply to, but the income issue is trickier. You may be forced to refi at a much higher rate if the bank will talk to you at all. Try dealing with local banks and credit unions first so that you can explain the situation in person.
Bring your divorce decree and quit claim deed when applying. It may take a while till you find someone who will work with you. |
01-06-2006, 08:01 AM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | Thanks for the info. Have an appt with my bank today and will try to go from there. Wish me luck!!! |
01-06-2006, 08:16 AM
| | Senior Member | | Join Date: Feb 2002 Location: Nashville,TN
Posts: 15,706
| | | The 'threats' of foreclosure by the mortgage lender don't make any sense if the payments are up to date. They have NO grounds to forclose unless you're behind in the mortgage payments. While they may have put the house in 'bankruptcy status' but that's no reason to get nasty with you. Who's making the house payments ?? Is your Ex going to reaffirm the mortgage ?? (bet he doesn't). If he does not reaffirm, that would leave YOU with sole responsibility for the mortgage anyway.
IF the BK shows up on your reports - dispute it since YOU have not filed BK.
__________________
"Knowledge is Power - use it as you see fit !
I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
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01-10-2006, 11:06 PM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | mtg company has changed their tune about the foreclosure...he apparently filed a ch 7 in the beginning and then changed to ch 13. yes, he is including it in his bankruptcy, but he has NOT been making the payments on the house in the past 5 years!!! I have. And the payments are current. Although the danger of foreclosure is no longer a threat, the mortgage is still considered to be in "bankruptcy status", and i cannot attempt to refi or anything until is is cleared (which mtg company says may take up to 5 years). So apparently my only option is to ride this out for the next 5 years and try to refinance then??? |
01-10-2006, 11:09 PM
| | Junior Member | | Join Date: Jan 2006
Posts: 4
| | | Also...can he include the loan with his bankruptcy if the trustee isn't dispersing any money to the mortgage company each month??? And if not, can the home loan be released??? |
01-11-2006, 08:19 PM
| | Senior Member | | Join Date: Feb 2002 Location: Nashville,TN
Posts: 15,706
| | | If his name is on the mortgage he HAS to include it in the bankruptcy, you can't exclude any debts.
__________________
"Knowledge is Power - use it as you see fit !
I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.
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