Real Estate/bankruptcy

[sine648]

What is the name of your state (only U.S. law)? New York

Real Estate:
My husband and I have a Legal Separation. I have been living in the condo we purchased when we were married. Using my own money, I contributed approximately 40% of the current value of the condo. Without my knowledge, my husband refinanced the condo and withdrew a tremendous amount of money. Since then, my husband filed for bankruptcy. Could I prevent the sale of the condo due to the fact that he refinanced without my knowledge? If the condo is sold, would there be any possibility that I could retrieve the money I contributed as well as the appreciation in the condoís value at the time of the sale?

[HomeGuru]

Originally Posted by sine648

What is the name of your state (only U.S. law)? New York

Real Estate:
My husband and I have a Legal Separation. I have been living in the condo we purchased when we were married. Using my own money, I contributed approximately 40% of the current value of the condo. Without my knowledge, my husband refinanced the condo and withdrew a tremendous amount of money. Since then, my husband filed for bankruptcy. Could I prevent the sale of the condo due to the fact that he refinanced without my knowledge?


**A: what sale, the BK sale? If so, then the mortgage payments are in arrears so the answer is no.

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If the condo is sold, would there be any possibility that I could retrieve the money I contributed as well as the appreciation in the condoís value at the time of the sale?

**A: not unless there is huge equity in the property. Chances are you will see no money out of the sale.