Quit Claim Deed And Ex Husband Filing Bankruptcy

somalicats

LoanSafe Member
Aug 1, 2013
13
0
1
Hi there!

My ex-husband is filing bankruptcy and just informed me I may be screwed. I am no where on the mortgage of the home, but I am on the title!!! We did a quit claim deed. OMG! We thought we were getting on with our lives! The mortgage is with Chase. Will they really come after me? How soon? I am in the process of buying my own home. I even thought I should go ahead and buy JIC they DO come after me. I maybe could file bankruptcy myself, but keep MY home. We tried to do all this the right way, but things keep going wrong. Does ANY one have any advice or experience?

Thank you and desparate,
Andrea
 

despritfreya

LoanSafe Member
Sep 8, 2011
369
53
28
My ex-husband is filing bankruptcy and just informed me I may be screwed. I am no where on the mortgage of the home, but I am on the title!!!
Not sure why you would be "screwed". Are the payments current? If so, do you really think the lender cares who is on title? Of course not.

The mortgage is with Chase. Will they really come after me?
Not sure why you would think Chase is going to go after you. You state you are not on the loan. If you are not on the loan Chase would not have a claim against you since you are not the borrower. Certainly, if the loan is not paid, Chase will take back ITS property - the home.

Can I quit claim deed the property back to my ex?
Not sure why you would want to.

The bottom line here is that the lender could care less so long as it gets its $$$$.

If your ex files a Chapter 7, his Chapter 7 Trustee will look into the transfer therefore the REAL questions are:

1. What Chapter is your ex filing?
2. Did the divorce decree give you ownership of the home?
3. Do you owe any $$ to your ex for the transfer of the home to you - property settlement?
4. Is there any equity in the home?

Des.
 

somalicats

LoanSafe Member
Aug 1, 2013
13
0
1
Not sure why you would be "screwed". Are the payments current? If so, do you really think the lender cares who is on title? Of course not.

<<No payments are not current. When he went in to sign the bankruptcy papers, the receptionist was looking through them and saw I am on <<the title. The way she worded it made him think they could come after me. He panicked.

Not sure why you would think Chase is going to go after you. You state you are not on the loan. If you are not on the loan Chase would not have a claim against you since you are not the borrower. Certainly, if the loan is not paid, Chase will take back ITS property - the home.

<<they are welcome to the home. I do not live there and do not want it

Not sure why you would want to.

The bottom line here is that the lender could care less so long as it gets its $$$$.

If your ex files a Chapter 7, his Chapter 7 Trustee will look into the transfer therefore the REAL questions are:

1. What Chapter is your ex filing? << 7
2. Did the divorce decree give you ownership of the home? << no, dont want
3. Do you owe any $$ to your ex for the transfer of the home to you - property settlement?<<nope
4. Is there any equity in the home? << nope

Okay so I consulted a lawyer and was told they might have my name listed in a "forclosure file", but it will not go on my credit report. Fine... I am stepping up my house hunt so that mine is bought before his bankruptcy is discharged... just to be safe.

thanks