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Mortgage Mess

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Ailana Morrow Guest	Posted: Wed May 18, 2011 11:47 am    Post subject: Mortgage Mess Like 0 Dislike 0 The wife filed for bankruptcy claiming her interest in the house, signed no quit claim, & the divorce isn't finalized. I have been making timely payments. We owe more on the house than its appraised value. I don't want my credit ruined because of her inability to control her spending. I don't know if I want to keep the house or foreclose. What would you suggest?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed May 18, 2011 10:10 pm    Post subject: Like 0 Dislike 0 Hi Ailana! Welcome to forums! If both of you have your names mentioned on the mortgage for the property, then after your wife's bankruptcy filing, you'll become solely responsible for the mortgage payments. It will be better to get rid of the property in such a situation. However, if you go for a foreclosure, it will have a negative impact on your credit report. Feel free to ask if you've further queries. Sussane

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