Assuming your girlfriend contributes at least $369 to the household (you have a household of 2), you earn too much money to file a Chapter 7, where you would be able to have all debts discharged without having to pay anything.
However, you should be able to have your debts discharged by filing a Chapter 13 Bankruptcy - where you would have to pay all disposable income (gross income minus allowable expenses) to the Bankruptcy court for 5 years. At the end of the 5 years, the balance of your debts - including the mortgages - can be discharged.
I think this is what you wanted to know. If not, please let me know.Thank you!
1) What is your girlfriend's gross monthly income?
2) How much of her income does she contribute to the household (rent, food, utilities, etc.)?
I answered that question in the very beginning (my first sentence in my first reply), but here it is again, and in more detail: I think Bankruptcy is an excellent option and a great idea for anyone in your financial position. With a Bankruptcy, you can start over, and live a life without the stress of wondering what the mortgage companies are going to do.
If you do not file, and if your ex-wife stops paying the mortgages, the mortgage companies can get judgments against you. Those judgments can be used to garnish your wages and bank accounts, and to place liens on any property you own.
It is true that your credit score will decrease substantially once you file, but if you have no more negative credit activity, your credit score will start to improve in approximately one year after you file. Additionally, you will be able to get credit again (if you want) in about one year after you file, and you should be able to get a mortgage for a house in about 1 - 2 years after you file.
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