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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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i am wanting to file chap 7 in washington state. i want to

Resolved Question:

i am wanting to file chap 7 in washington state. i want to know if i can on the mortgage that my ex was awarded in our divorce. i quit claimed my name off the deed, but he hasnt refinanced in his name. my name is XXXXX XXXXX the papers- with it, i am $260,000 in debt. without it, i am $40,000 in debt. i want to know how it will affect my ex and is there anyway to get my name off the mortgage by showing the bank my divorce papers?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.

Hi Customer,

Since your name is XXXXX XXXXX the mortgage, you do have to include the information concerning that debt in the Bankruptcy. However, having $260,000 in debts is not a problem when filing a Chapter 7 Bankruptcy.

cfortunato and 3 other Bankruptcy Law Specialists are ready to help you
Customer: replied 6 years ago.
Relist: not enough info... .
not enough info...
Expert:  cfortunato replied 6 years ago.

Sorry! I don't know why I didn't see the last sentence.

If you file a Chaper 7 Bankruptcy, the only affect on your ex-husband will be that he will become the only one legally responsible for the mortgage. (Having a divorce decree that indicates that only one spouse should pay the balance of the mortgage, and/or have the mortgage put in his name alone, does not relieve the other spouse from the liability of paying the mortgage. The only way to be relieved of the legal responsibility of paying the mortgage is for the other spouse to re-finance.)

A lender will not remove a name from the mortgage because of a divorce. They will only remove a name if the party who wishes to remain on the mortgage has the mortgage re-financed.