I declared myself bankrupt 2 1/2 years ago due to marital/divorce debts. My ex husband stayed in the property. I listed the mortgage in the bankruptcy. The OR told me that it wont clear it as it is a secured loan. My ex is now paying the mortgage erratically, I fear it may be reposessed. The or has tol me that if it is it will become an unsecured debt and any negative equity will be swallowed up in the original bankruptcy, withour me having to go bankrupt again. Is this correct. Also I remarry this summer and I'm concernec that the bank will expect my new husband to sell his property to clear my negative equity.Could this happen? Is there any way that I can have my name taken off the mortgage and the deeds in the future. At present my ex husband has declined buying my share from the OR.
Yes, that's correct, any shortfall from a repossession will be covered from your bankruptcy.
Your husband to be will not be affected and they won't expect anything from him.
The only way you can be removed from the mortgage is if the mortgage company agree to it. Your ex-husband would need to be eligible for a mortgage on his own income etc.
I declared myself bankrupt 2 1/2 years ago
Posted - 27 January 2012 : 01:56:57
