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NateLawAnswers, Attorney
Category: Legal
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just got through a divorce last year.....only thing left is

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just got through a divorce last year.....only thing left is the house which i have sole responsibility. savings and 401 k gone from the marriage...she lives in an apt. and has no real assets. have tried selling house for a year...i am going negetive in debt each month with no assets left...i am 61 and can't do this till retirement . looking to walk away. what would you retirement , 401k or assets left.....i would rather do this now while i am healthy....
Submitted: 6 years ago.
Category: Legal
Expert:  NateLawAnswers replied 6 years ago.

Thank you for your question and welcome to


Have you considered bankruptcy? It very well could solve this. Let me know if that's an option you would consider and I will go into more detail.

Customer: replied 6 years ago.
what impact would walking away from the house only....can they go after my payroll check or force payments......nothing else left to take.....or would you recommend bankruptcy over that....which would be the best direction.....i want to make sure everything else is taken care of. i intend to pay all my other debt....
Expert:  NateLawAnswers replied 6 years ago.
If there is a deficiency after the house is sold at auction, they can come after you for the difference. In bankruptcy, if you do not re-assume the mortgage, the bank gets the property as collateral and you will not owe any deficiency.
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