Roger - Lawyer only please.... (Bankruptcy) Please do not use chat format - too hard on my smart phone I live in Arizona Are there any options for me to not lose my home to a situation being done by my ex spouse. I received this text from him and we don't talk. From ex: Good morning, I'm contacting today to inform you that I have retained an attorney and filed bankruptcy. As part of it, I'm including the XXXXXX XXXXXX XXXXXX as well as the leased vehicle you are in possession of. With that said, my counsel has informed me that if you would like to keep the properties mentioned above, you will need to get them refinanced on your name only as per the divorce decree. You have approximately 5 weeks to complete the refinancing, otherwise, the properties will be included and subject to repossession by the creditors (in the case of the house since there is approximately $46,000 in equity, it will be sold to offset the outstanding debts given the fact that the divorce decree conditions of getting them refinanced on your name only in order to be the sole owner of the property was not abided to - in essesnce, in content of the court ruling). If you refinance the home and my counsel has confirmation that the loan involving me was satisfied, my counsel will file a deed to transfer my ownership interest to you. If you decide to sale the house instead and buy another home in your name only, it will need to be done quickly as to avoid the creditors claim to the resulting profits. Please let me know what option you will be going with so I can communicate it to the appropriate parties. Roger: I am not sure what I can do to not have my placed either seized or used as collateral or anything....... My former husband is filing bankruptcy and must list all assets including any real estate he owns. He transferred his interest in the property to me by Quit Claim Deed, but I have not been able to refinance because of your financial situation. My former husband is filing Bankruptcy and is asking me to refinance the property that I formerly held jointly with him. He executed a Quit Claim deed of his interest to me, but his name is ***** ***** the mortgage. My former husband is filing bankruptcy and is telling me that he will have to include his share of the marital real property unless I refinance the property and have his name removed from the loan documents. Roger – Lawyer: The facts are that there is no mention of any refinancing in my decree, that says I am to refinance but maybe that is the assumption. I received a signed quit claim deed from ex making the title of condo mine and that has been submitted to courts. Ex is still named on mortgage along with my name. We were divorced any it was filed in April 2012 - over 2 years ago. Our place was underwater at the time of the decree completion. I have always been and am current on my mortgage that I have been paying since the divorce. I have too high debt to income ratio = 88% My credit score is high though. I have not been able ego qualify for any refinance and I am disabled on SSDI income. My mortgage company said that he is using the condo loan as collateral and the bank is also an owner and would use the collateral as well and nobody care enough that I am current on loan. On my Deed of Trust, the place that talks about Transfer of the Property or a Beneficial interest in Borrower showed you may have to have Lender’s consent which never happened and they are not adhere of the quit claim deed. I do not recall or see anywhere in the decree talking about refinancing or dates to pay by. I do not understand legal jargon but in the decree there is no mention of the word refinance. When we filed for divorce home was underwater. Now over 2 years later after I have kept current on my mortgage it shows on zillow.com being worth 52,000 more than I owe. In my condo complex everything truly sells and after foreclosure and short sales goes for more than $20,000 less than what I owe. But market value shows online as more. Since the message from ex seemed like they checked into things it made me think what they are saying could hold true and then I lose home. Not sure what to do about my leased vehicle that is in both of our names. I have to years left on the lease and completely current on payments. With my ex's name on loan will fall within the jurisdiction of the Bankruptcy Court? What if my property is worth more than $50,000 of what I owe? Also, that I never got prior authorize to soley hold the title and share with them the quit deed. So the quit claim deed hold no weight since no auth from bank prior. I wonder why the legal verbiage that my ex sent in that message specified that I did not abide by the divorce decree in regard to the refinance. Since its lawyers saying that wouldn't they be right? Please tell me what I need do about my leased vehicle and ex putting car in bankruptcy.
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