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ibuenoca1 · Joined: 22 Oct 2009 Posts: 1 1.33 Dollars($)

My exhusband and I still co-own our home, we were divorced 5yrs ago. He has since bought another home with his girlfriend and is losing the home by bankruptcy. If he quickclaims my home to me will my home be affected by his bankrupcty? I live in the home we co-own, I take care of the mortgage, but we are both on title and on the loan.

Guest

Unfortunatly, if he quick claims it to you all that means is that he has no vested interest in the property but he is still liable for the mortgage note. If he can hold off filing maybe you can go refinance the rates are awesome anyway, but I think you have a problem. I'm not a lawyer but I believe when you file they take all of your liabilities in, which would include the loan he cosigned with you.

mrripper · Joined: 22 Oct 2009 Posts: 12 2.65 Dollars($)

If he has no interest in her home, how could someone try and take it as an asset of his?

jenkin7 · Posted: Fri Oct 23, 2009 2:47 am Post subject:

Hi ibuenoca,

If your ex-husband quitclaims the house to you, it will not help you in any way. He will still be responsible for the loan as he co-signed on the loan. The lenders can still come after your house, even if he quitclaims it to you. You can now refinance the loan in your name to remove his name from the loan and then have him sign over the title to you. The other option is to, include the mortgage debt in his bankruptcy and then have it reaffirmed by him. Once it is reaffirmed, the lender will not foreclose on the property as long as you keep making payments on time.

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co-owner with exhusband