I divorced a few years ago. Husband got the house which was upside down by 100k, but he stayed and even payed mortgage for a little while. Finally after all this time and 1 year of no payments the bank is foreclosing on property. So far I received a collections letter from the law firm wanting money for the HELOC.
Some info about me: I live in a state with recourse loans, wage garnishments of up-to 15%. I have a good paying job, the ex is likely not working.
I do not care about my credit at this point. It is totally shot from 1+ years of ex not paying the mort.
What are my options? Am i the sole person on the hook because I have income? Is BK even an option for someone with high salary?
My new husband jokes that we should "divorce" and make me pay him alimony and child support, which would get in front of wage garnishment. The joke started to sound reasonable.