My ex filed bankruptcy and is on the home loan what are my options?

Question

My ex is on the mortgage; however, he does not financially contribute to the household. Back in 2017, he stopped paying the mortgage as we agreed upon (as I don’t collect child support/alimony), for 10 months. We were referred to foreclosure. He then filed Chapter 13 Bankruptcy and I was protected by Automatic Stay. Since, I have made all monthly mortgage payments on time. I have made payments on time for over a year.

Now, the chapter 13 Bankruptcy has been dismissed. I am no longer covered by the automatic stay of the bankruptcy. I am able to afford my monthly mortgage; however, I cannot afford the 30k in arrears. I was denied a loan modification. Am I able to refinance under solely my name? What are my options to keep the home?

Answer 1

Go talk to the bank that has the loan.

Answer 2

YOU were NEVER covered by the automatic stay. That ONLY applies to collections against the party that actually filed bankruptcy.

If you can find a lender that will allow grant you a loan in your own name, sufficient to pay off the current mortgage, it is legal. You didn't include ANY of the information needed to GUESS if you qualify.

Answer 3

You need an attorney. You may be able to refi under your own name if you have sufficient income and credit score. You also should file for child support as that can be considered as additional income.

Answer 4

I dont know the laws in the US - so you need to see a lawyer cos to me it dont look good



My 1st thoughts are

The house is part of his assets (cos his name is on the mortgage he is co-owner - dont matter who pays it)



Since you say he is your "ex" - what "ex" would that be?

If he is your "ex"-husband what was agreed in the divorce papers?

If his debt is large enough the creditors may be able to force a sale of the house to get back some/all of what he owes

How MUCH of the proceeds of the sale depends on a number of things



5 things dont help

1) he dont live there so its not "his" home and he is your "ex"



2) you are in arrears with the mortgage



3) YOU agreed to him not paying the mortgage (in exchange for not collecting child support) - so YOU contributed to the situation as regards the arrears. (Presumably this was done via mutual agreement and not via the courts)

(I think legally you would have been better taking out your own mortgage and buying him out, AND collecting child support)



4) He was paying the mortgage for some time - thus preserving his rights to the equity in the property even though he had become your "ex" and moved out (this goes back to 3)



5) he has been refused chapter 13 therefore his only choice is chapter 7 - Under this the house can be seized - Him not living there makes this more likely - The mortgage being in arrears makes it even more likely you are gonna lose the house

(the mortgage company are more likely to foreclose before the court orders its sale)



What I dont understand is

How on earth do you expect to refinance? - Only way you COULD refinance would be to take out another mortgage to cover the outstanding debt on the current mortgage AND the 30k arrears which you say you cant afford.

(and this could only happen if he WASNT going for bankruptcy,cos at THIS moment the house is part of his assets and what happens to it will be decided in the bankruptcy hearings)