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newsomer_an · Joined: 09 Dec 2008 Posts: 1 1.50 Dollars($)

My x husband filled bank ruptcy chapter 7. My concern is I have a quick claim deed but he had a loan from BOA and it was a loan for (personal,family, household purposes & personel investment) they used our home for a lein. I wanted to know will the bank come after me. My husbands name is the borrower and the account is on his name. They have my name as the grantor. But since we are divorced and I filed a quick claim during the divorce what will happen to my house. I have been making my mortgage paymnets and will continue to do so I just want to know were do I stand?

jerry · Posted: Thu Dec 11, 2008 3:29 am Post subject:

Hi newsomer_an,

If your name in not on the mortgage docs, then the bank will not come after you neither will your credit be affected. You have mentioned that you have quitclaimed the property to your ex-husband, then I guess your name is not on the deed even. Thus, the lender cannot make you liable for the mortgage.

Thanks,

Jerry

Guest

Maybe I should make myself clear. My husband got a home lone of credit (home equity loan) when we were married. He is the borrower and I am the grantor according the docs so that right there puts my house in a lein. My question is since he filed chapter 7 with BOA and his persol credit.
Will BOA have a Foreclosre on my home. I pay the primary mortage on time. I have the the deed do my home. Also is it possible that the 2nd mortgage bank can buy my primary my house? Do I wait till I hear from the BOA?

adonis · Posted: Fri Dec 12, 2008 12:07 am Post subject:

Welcome Rose,

You have mentioned that you are the grantor. Did you quitclaim the property to him against which the loan was taken? Or is the property in your name whereas the loan was taken by both of you? As far as I can understand if the property is in your husband's name then it can be liquidated to pay off the creditors.

williamwfergusonjr · Joined: 11 Dec 2008 Posts: 7 4.50 Dollars($)

If the bank used your home to secure a home equity line of credit when you were both married, then you will continue to have to pay them in order to keep your home. Your ex-husband's bankruptcy does not make their lien go away. Also, the quitclaim deed doesn't affect the bank's 2nd position lien. Regardless of who the bank has as the primary borrower, grantor, or whatever, the only thing that matters is WHO SIGNED THE NOTE, and WHO SIGNED THE DEED OF TRUST (OR MORTGAGE). If both of you signed the promissory note, and both of you signed the mortgage, then YES, the bank will expect you to make their monthly payment, or they can foreclose, since you are a joint obligor. Since your husband has filed Bankruptcy, the bank is "stayed" from contacting him, so most likely, they will contact you. Now, if your ex-husband was ORDERED in the Divorce Decree to pay certain debts, obligations, child support, alimony, etc., that is a different matter, but one between you and him, (not the Bank). Some of these obligations, such as child support, are NOT dischargeable in Bankrupcy. If that is the case, you will need to have a Bankruptcy Lawyer in you area look at the Divorce and Bankruptcy papers to see if you have any recourse.

Guest

ok here it goes I have been divorced since August 08 have quick claim under my name, my x husband name is on our mortgage, he filed for chapter 7 were will that leave me with my home?

smithsussane · Posted: Mon Jun 01, 2009 10:20 pm Post subject:

Hi rose!

Welcome to forums!

When the property was transferred to you, didn't you refinance the mortgage in your name? If your husband has included the mortgage in his bankruptcy, then there's a chance that you may lose the property. I would suggest you to contact a bankruptcy lawyer and discuss your options with him.

Feel free to ask if you have further queries.

Sussane

Guest

I recently got divorced, my ex quick claimed the house to me. His name is still on the mortgage and his has filed bankruptcy. I am still paying the mortgage and I am trying to do a modification. What will happen since he is filing bankruptcy.

Guest

I am in the Same Situation as Jenny. I have the grant deed to my home but my ex is still on the mortgage since my home could not be refinanced. He has now filed chapter 7 on the home and the bank wont give me a straight answer as to what will happen to my home. Every time I call the bank I'm told a different thing. Nobody seams to have answers that match. I just need to know if I should keep the house current and hope they let me keep it or just let it go. Ive contacted a few lawers and they all are telling me different things as well. Everyone I talk to says they bank can do whatever they want.[img=right][/img]

adonis · Posted: Sun May 01, 2011 10:41 pm Post subject:

Hi Jenny,

Since your ex is filing bankruptcy, you'll become solely responsible for the mortgage payments after he gets a bankruptcy discharge, if your name is on the loan. For the time being, the lender may stop the loan modification process. You should speak to your lender in this regard and sort out the matter.

Welcome Kate,

If you want to save the property, then it is better to keep the payments current.

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Ex husband filed bank rupcty chapter 7 and he had a loan/lein from our home where do I stand?