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Bankruptcy, Divorce, and the Mortgage

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C

ciresmis

Guest
What is the name of your state? Texas

My wife and I have been married for 10 years. We filed for chapter 13 bankruptcy 3 years ago after a failed real estate venture. We still have two years to go before the bankruptcy is discharged. My wife left this past June. I can just barely afford to keep our house, and she has only contributed $200 a month since she left. She has indicated she will not be able to pay me any additional money to help with the mortgage. At the same time, she has demanded that I pay her for her share of the equity. Well I have little money to qualify for a refinance with a cash out, and the bankruptcy is not making refinancing a cake walk. I have a company that is working with me, but I am not certain what will eventually happen. Her share of the equity is $5000. We had agreed to allow me to pay her out after the house was refinanced, but now she is changing our verbal agreement. I really want to keep this house, and she has agreed to letting this happen. She now demands a cash-out, something she knows will be very difficult. I have very little money and can barely make ends meet. We qualified for this house witrh both our incomes and now there is only one. I wonder if she is not financially obligated for her half of the mortgage. Since I am now paying her half, shouldn't her half be subtracted from her share of the equity? Any assistance or advice is greatly appreciated. I hope I have not left anything out.

Thanks in advance for taking the time to read this.
Eric
 



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