Divorce and Bankruptcy


#1

Hi,
I am posting this here because I have consulted with 2 attorneys and still don’t really have a clear answer. Any input is greatly appreciated :slight_smile:

My wife and I separated in july 2009 after 7 years of marriage.
We bought a house in 2002 after we were married. The first mortgage is in both our names.
In 2006, she got a second mortgage in her name only to pay off credit cards. My name is not on the second mortgage. My signature is on the deed of trust filed at the courthouse, but it’s not on the note.

After we separated, she gave me a quick claim deed, relenquishing all her interest in the property to me. In return, I agreed to hold her harmless from the first and second mortgage.

The bank will not discuss anything about the second mortgage with me. The will not even tell me the amount of payment due. I have paid it over the phone using copies of old statements.

In march 2010 she filed bankruptcy. Listing the first and second with zero dollar amounts and a note that “spouse agrees to hold wife harmless” from these loans.

In september, she was granted a discharge.
I have always received the bill for the first mortgage, but now, neither she nor I are recieving the bill for the second mortagage, and the bank rep actually told me on the phone that if I’m not receiving the bill, and he’s not allowed to discuss it with me, and my name is not on it, then he recommends I not pay it.

So, this month I did not pay it.
What’s going to happen ? :slight_smile:
Both the first and the second are with BOA. From what I understand the second mortgage is not in a position to foreclose. The deed is in my name only. The second mortgage is in her name only .Also, would they not try to contact or mail something before attempting to foreclose ? And if they did, would they not have to produce the ORIGINAL loan docs, which I suspect they don’t have ? THANKS !


#2

I would suggest you get yo ur ex’s help to determine what is owed on the loan, and what if any amount must now be paid.
The second mortgage cannot foreclose without the permission of the first mortgage holder.