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Guest

My daughter was recently divorced and obtained the house they bought while married in the divorce settlement. She now has the deed of trust in her name only. Unfortunately, the mortgage is still in both of their names. She is making payments on her own but the mortgage payments now constitute 51% of her take-home pay and she is struggling. She would like to rework the loan but they tell her she cannot unless she starts defaulting on payments and she does not want her credit pinged. She is also worried that her ex will file bankruptcy again and this will affect her home despite never being late on payments and having excellent credit herself. (Her ex filed bankruptcy once before prior to their marriage. He is not very good at handling his financial affairs.) Anyway, is her credit or home in jeopardy if he does file again? She lives in Texas. Thanks.

adonis · Posted: Mon Feb 21, 2011 10:47 pm Post subject:

Welcome Guest,

If your daughter's ex-husband files bankruptcy and includes the mortgage in it, then he will be discharged from the mortgage payments. This will make your daughter solely responsible for the mortgage payments. Moreover, it is true that lender's won't be ready to modify the loan unless the borrower is delinquent on payments.

Guest

Would his bankrupcy hurt her credit despite her never being late on payments and its occurrence after her divorce was final?

smithsussane · Posted: Tue Feb 22, 2011 10:41 pm Post subject:

Hi Guest!

Welcome to forums!

If your daughter is not filing bankruptcy jointly with her ex-husband, then his bankruptcy filing won't affect her credit in any way.

Feel free to ask if you've further queries.

Sussane

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