Filing to get name off mortgage....

[blueeyes14424]

What is the name of your state? ny

I filed for bankruptcy to get my name off of my old house which I let my husband get in our divorce. I was not made aware at the time that my name would remain on the mortgage, but not the deed (no attorney). Obviously I can't buy another house until my name is removed from the first one. My question is this.... once the bankruptcy has been filed and the mortgage company gets the info, will my name be removed and the entire debt be transferred to my ex, making him responsible for the whole amount? Also, since his debt to income ratio is so bad (that's why they wont remove me willfully - we tried that), is it possible that they will force him to sell the house or refinance it, or even get a co-signer to replace me? I'm just wondering and can't get ahold of my bankruptcy attorney today. Thanks!

 

[Ladynred]

Your name will still be on the mortgage, but they will be barred from coming after you for any part of it, it will ALL fall on your ex to pay. They shouldn't force the sale of the house unless he falls behind in payments, and I doubt they'd make him find another co-signer.

 

[HomeGuru]

Your name will still be on the mortgage, but they will be barred from coming after you for any part of it, it will ALL fall on your ex to pay.

**A: and how is this to be true?

 

[Ladynred]

She filed for bankruptcy, assuming she included the mortgage. A discharge takes away her liability for the debt, but it won't physically remove her name, it just prevents the mortgage company from pursuing her for any part of the mortgage - the Ex gets it all.

 

[blueeyes14424]

So I will still be able to call the mortgage company and discuss it since my name will be on the mortgage but not as a responsible party????? I would think if I become releived from the obligation that they would not allow me info or to remain on the mortgage.

One other attorney I just spoke with (via intenet) said I can't put the mortgage on a bankruptcy - that it would do nothing for it. But he is the first to say that. I can't see why my attorney would tell me otherwise, it's not like that is the only thing on the mortgage.

 

[Ladynred]

I saw your post in the BK forum. Did your lawyer file a CH 13 or a CH 7 ????

CH 13 pays the debt back, Ch 7 gets rid of it (generally). A mortgage CAN be included in a CH 7 and it can be discharged as long as you are not reaffirming the debt. YOUR liability for it would be discharged, and your EX would get the full burden. The lawyer who told you a mortgage can't be included was wrong.. or he didn't understand the facts as you gave them to him.

You can still call the mortgage company, your name would stil be on the loan. However, you won't get them to take your name off of it unless your ex refi's in his name only. What it should say on YOUR credit report for the mortgage is 'included in bankruptcy'.

 

[blueeyes14424]

If my name still appears on the mortgage, even though I am relieved from the debt, will this effect me from purchasing in the future as it does not? I've been turned down for mortgages in the past because my name shows, but if it "clearly" shows I am releived, will that suffice?

 

[bigun]

Your problem for a couple of years will be the bk on your report. After 2 years of clean credit post bk, you can qualify for an FHA mortgage at conventional rates. They are not score driven.