Her mortgage liability will be discharged.
You don't file bankruptcy "on" anything. You file for bankruptcy for all debts, including a mortgage or mortgages. If the other party has been paying the mortgage and has possession of the premises, there may not be a problem for that person. If there is a divorce order requiring the absent party to pay or pay part of the mortgage, there may be a contempt action for violating that court order.
What happens if the mortgage and deed are in two names and one claims banckrupcy
Yes. When you file bankruptcy you are required to fill out a number of forms. Schedule D is the form for Creditors holding secured claims and a home mortgage is a Secure Debt. You will have a complete list of all your creditors names, addresses, account numbers on a form called the Creditor's Mailing Matrix. The Bankruptcy court sends notification to all the creditors listed that you have filed bankruptcy.
If the mortgage is in both names, or if there is significant joint debt, you are better off filing bankruptcy jointly before the divorce is final. If the mortgage company forgives the balance, it will count as income to you and you will have to pay taxes on it in the following year, unless you file bankruptcy. Or the mortgage company can sue on the deficiency and get a judgment good for 10 or 20 years. Unless you file bankruptcy.
The court does not take anything. Is that the one in both names? Was he paying the mortgage or part of the mortgage? I strongly urge you to get your own bankruptcy lawyer, since this is a very technical area of bankruptcy law. You need to find out if he intends to abandon his interest in the homes or intends to reaffirm the mortgage(s). Abandoning the property can cause problems if you cannot pay the mortgage on "your" home in Iowa. The real estate would be foreclosed on if there is a mortgage, unless you can make the payments on a joint mortgage or refinance in your name alone. You can also sell the house owned jointly, though you might need his agreement to sign the transfer documents or file a legal action in Iowa if that was where you were living when the separation took place or if venue lies in Iowa for other reasons. I said it was technical!
Yes. You need to consult with a bankruptcy attorney who can explain the consequences under federal and state laws.Yes. You need to consult with a bankruptcy attorney who can explain the consequences under federal and state laws.Yes. You need to consult with a bankruptcy attorney who can explain the consequences under federal and state laws.Yes. You need to consult with a bankruptcy attorney who can explain the consequences under federal and state laws.
The loan may not be the real problem, but how you own the property (tenancy by the entirety, joint tenancy, tenants in common). The loan is secured as to the two of you, and if she is trying to surrender her interest to the mortgage company in a chapter 7, she might be able to. I suggest you talk to the or a divorce lawyer about the law in your state.
The foreclosure is reported under the names of the primary borrower and the co-signer. The co-signer is equally responsible for paying the loan.
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
If the loan note is not reaffirmed, the lender may choose to repossess the vehicle once the stay is lifted, unless the car is excluded from the BK and the payments remain current. In the event of default, the other party may reaffirm at any time with the lender. It is a good idea for that party to have possession of the unit though.
Java doesn't use header files.
Yes.