Expert: Norma Duenas - California Bankruptcy Attorney - 3/4/2010

Question
After I married, my husband and I refinanced my home, that I owned before the marriage. His name was put on the deed so we could refinance. After the divorce he signed an interspousal transfer deed giving me back full ownership. The loan, which he walked away from, is still in both of our names because I cannot qualify to refinance on my own at this time. He has just informed me that he wants me to get his name off of the loan within 30 days or he will go bankrupt. He has been gone for 8 years and I make the payments on my own. Will his going bankrupt hurt me or make problems with my home? Should I be scared?
Thank you for any advice you can give me.
Respectfully,
Linda

Answer
This should not present a major problem, in keeping your home. As long as you are current and continue to be current on your mortgage payments, while he files and is in bankruptcy, the mortgage company should not seek to foreclose on your home. From my experience mortgage companies have not sought any action against a house where the mortgage was current and continued to be current while the person was in bankruptcy. If you have any further questions you may contact me at: http://www.socaladvocates.com