Iowa - Can I lose my house?

[d13e13r13]

I live in Iowa and I have been divorced for 1 1/2 years. In that divorce I was awarded the house, the monthly payments and all equity (about $20,000 equity). My house is in both of our names and I have to refinance within 5 years. My question is my ex-husband has remarried and they are declairing chapter 7 bandrupty. Since his name is with mine on my house, will his bankrupty affect me in any way? I received a notice that he is filing for bankrupty and I am listed as a creditor. There is supposed to be some meeting for creditors to attend. Do I need to go? Thanks for your help.

 

[azatty]

It shouldn't be a problem in the long run, but it may cause a hiccup early in your husband's case. The property division decree/divorce decree adjudicates ownership of the house and the bankruptcy court is required to defer to the state court judgment on the issue.

What may be more of an issue is your bank--it may stop sending you loan statements when it gets notice of the bankruptcy because it may not know that you and your ex are no longer together. Keep a close watch on it. If you get any letters from your husband's trustee, get a lawyer involved.