If my ex-husband is in the process of filing bankruptcy, how does this affect the mortgage which is in both of our names?

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If my ex-husband is in the process of filing bankruptcy, how does this affect the mortgage which is in both of our names?

My ex-husband has quick deeded me the house but is still on the mortgage. He is in the process of filing bankruptcy. How does this affect the mortgage and me? The mortgage is in good standing and has never had a late payment.

Asked on April 11, 2012 under Bankruptcy Law, Tennessee

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If title to the property that you are writing about is in your name alone where your former husband is filing for bankruptcy protection and the mortgage payment has never been late, his bankruptcy filing will have no effect upon the mortgage or upon your credit rating.

You might consider refinancing the loan secured by the mortgage to get your former husband's name off the loan if you can get a better interest rate.


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