House/ExSpouse-Bankruptcy-Foreclosure Options???

[krissy42870]

What is the name of your state?IN

I'll try to keep this short as possible. My husbands - exwife, received their marital home in the divorce decree with agreement she would refinance after 18 months. It's been now 3 1/2 years and she has not refinanced so it is still in my husbands name . She filed bankruptcy last fall, with the intent of reaffirming on the home and then refinancing. There was some sorta "paperwork" mistake and the home was not reaffirmed on, the house is now in foreclosure. The ex-wife has decide to walk away free and clear from the property. I would anticipate a deficiency when the house sells. My questions..

Can my husband file bankruptcy on the home only? (He has no other debts - everything is in my name since his was tied up with hers)

Is there anyway to hold the ex-wife liable for the deficiency since she defaulted on the terms of the divorce decree?

Thanks in advance.

 

[chris7]

You can't file BK on only the debts you want, you have to file on them all. But, if he really has not other debts and he meets the requirement for filing under the new law (for CH. 7 at least) then it sounds like he could file. Just from what i've read here I don't think, in general, that divorce decrees carry any weight in BK court.

 

[Ladynred]

Sorry, but you would have no recourse against her now that the debt for the mortgage has been discharged. Aside from spousal and child support, divorce decrees have little to no weight in bankruptcy cases. And they don't hold any weight with creditors either.

He CAN file on the mortgage, even if it is his only debt. However, if his income (including yours) is more than your state median income, he'll be looking at a 5 year CH 13 which will NOT be pleasant.