house forclosure, car repo- both in my name only

[onenonly76]

What is the name of your state? California
My husband and I have been separated for over a year. We are planning to file for divorce soon. He has been paying the house and car payments during the separation. We are now losing our house and car due to my husbands job loss. Both loans are in my name. Is there anything I can do to prevent my credit from being the only one affected?

 

[moburkes]

No, you can't suddenly add him to the loans. You can, however, file BK after the divorce.

 

[tuffbrk]

Just curious why you haven't sold? Presuming due to market conditions you haven't been able to sell for profit or at break even? Presumably, OP qualified and I realize that the loss of one income towards expenses is crippling (my STBX quit his job when I filed) but to lose house and car that you qualified for? Maybe part of this story is missing...

 

[nextwife]

Is there anything I can do to prevent my credit from being the only one affected?

Yes. Bring the loan current and keep it current.

 

[moburkes]

Yes. Bring the loan current and keep it current.

Ah, good answer. But, that, too, will ONLY affect her credit.

 

[nextwife]

Ah, good answer. But, that, too, will ONLY affect her credit.

And: the house.

 

[moburkes]

And: the house.

Huh? I incorrectly emphasized the "only" part, when I meant to emphasize the "her" part. In either case, only her credit will show late payments or on time payments.

OP, this is what you agreed to when you put the loans in your name. You cannot now decide to ruin his credit as well.