Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Your wife's property acquired before the marriage is her separate property and would not be reachable by your creditors. It is prudent not to co-mingle the property with yours and to keep her property separate from yours, keep separate accounts, etc.
I did not address the bankruptcy issue because you did ask any question regarding it.
If your debt is $1.4M, you cannot file for Chapter 13 because your debt would is too much for a Chapter 13. Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $383,175 and secured debts are less than $1,149,525. These amounts are adjusted periodically to reflect changes in the consumer price index.
You can file for Chapter 11 if you want to save the house. Otherwise,you can file for Chapter 7, which is a liquidation Chapter if you do not want to save the house and if you meet the means test.
Click on the link below to see the current income guidelines for your state:
The loan is still secured whether or not under your name. Also, because you live in community property state that debt may still be considered yours if the property is not your ex-wife's separate property. If it is her separate property, then you can qualify for Chapter 13 if your secured debt is only 460k.