Bankruptcy of husband, our divorce and our house mortgage

California is a Community Property State. This means that property and debt acquired during the marriage belong to both husband and wife, even if you did not sign the loan papers. You are entering into a mine field that you will want to avoid. There are legal issues with a bankruptcy petitioner giving away assets the court may want for creditors. The house may or may not be protected. Refinancing it into your own name may not protect you either. Also, just because your spouse goes bankrupt, that doesn't mean the creditors won't look to you for repayment of joint debts. Your divorce attorney should be able to put you in touch with a bankruptcy attorney that can give you 15-30 minutes of pro-bono guidance. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

IF you can qualify on your own, I would try to keep the house sole and separate outside of the Bankruptcy. I dont know enough of your situation, your husband's situation to answer the question as to whether it will be protected or not from creditors. If you would like to call me at 623-340-0934 or email me at korene@wjbradley.com I would be glad to assist you and answer any questions I can. I am not a lawyer. Nor do I practice or give advice for bankruptcy, taxes, nor divorce.I licensed to originate loans in Arizona and California.Korene Clopine-Seaman, NMLS 218250

Hello Melissa,If you are current with the mortgage payments, my suggestion would be to try and refinance the home soley in your name. The new Home Affordable Refinace program has been revised to help homeowners in your situation. In most cases, there is no credit and appraisal requirement to be approved for this opprotunity. Also, see if your loan is assumable, maybe a transfer under the same loan can be transferred in your name only. It is possible for creditors to place judgements or liens on the property. These liens will need to be paid off if you refinance or sell the property only.Good Luck, if you have any other questions, call me. 800-896-5333 Gilbert RamosMortgage Partners, Inc. NMLS 286678 DRE 0135128441890 Enterprise Circle S.Temecula, CA 92590

Everything depends on whether or not the mortgage has been kept current. Best bet is to refinance it into your name only, which will probably be required per the property settlement in the divorce.Yes, your home will be protected during the bankruptcy, but it is important to keep up the payments. If you are not paying or you are behind, the mortgage servicer can petition the bankruptcy court to lift the stay and then file a foreclosure action. Each state is different but you typically have homestead exemptions, so if your home has equity it may be protected. Your divorce attorney should help you with all the legal issues.Let me know how I can help or answer questions. Thanks, Curt Tiedeman206.650.4202www.CurtTiedeman.comC.tiedeman@1ratemtg.com

You may want to check this with a real estate attorney first however I will try to answer your question but not as a loan officer but based on my limited not qualified knowledge! Then only a real estate attorney is eligible to give you a legal advice who is updated on legal guidelines on daily based!It depends on what kind of bankruptcy he is filing for! Some type of BK are protecting the real properties! If his BK does NOT protect the house AND your divorce is filed & finalized AFTER his BK is filed ,your house maybe subject to consideration by the creditors! Good luck.Please note! The given statement is not a legal advice you need to check this with an attorney and need to indemnify American Select Funding for any harm!