joint mortgage/bankruptcy

[dontruinit]

What is the name of your state? Arizona

My boyfriend and I bought a house together and the house is in both of our names.

My boyfriend is going to file bankruptcy. Where does this leave me?

How will this affect the house and my credit? My credit is awsome and I make good money. I spent my whole life making sure my credit stays great.

I called my mortgage company and asked what would happen if he did this and she said my credit would be damaged for seven years.

If we both continue to make the payments on the house, why should it affect my credit?

I would refinance and take his name off the loan, but the house has no equity in it. I think his name may be stuck on it.

What things would be taken away from us if he files bankruptcy?

Thanks for your time in advance.

sn

[FlyingRon]

I'm not sure why bankruptcy of one of the note holders would have any derrogatory effect on the other especially if you are continuing to make the payments on time. Secured loans like this don't get discharged in bankruptcy, all it does is ALLOW the foreclosure to temporarily be stayed (which won't even be necessary if things are up to date).

Your bigger problem is trying to maintain a household with this deadbeat.

Are you sure you can't refinance (in your name only)?

[dontruinit]

When I called my 1st mortgage company they transferred me to the assumptions department and I got their voice mail. So I am going to call later and see if I can get his name off. I heard that it is very difficult to get somones name off of a mortgage.

I have tried to refinance my loan many times, but keep getting turned down. I owe 270,000 and it is selling for 191,000.

[temple]

Whatever you do, I beg you, for your own sake...DO NOT LET HIM FILE BEFORE HIS NAME IS OFF BOTH THE TITLE/DEED AND THE MORTGAGE.

Please, go back through my old posts immediately and read why.....

[dontruinit]

How do I do that? What are all the ways to get his name off the deed and title?

I can't refinance I have no equity in the house. How do I find all of your post?

[temple]

If you go up to the top of this post and click on my name in blue, you will get a drop down menu....one of your choices is to go to all mt previous posts. Please pm me if you would like and I will try and give you any help I can...NOONE should EVER have to go through this, believe me!