In my FL divorce document, I turned our family home over to my husband. he agreed to accept all respondsiblity to pay mortgage, etc and I relinquished any claim to home. He also three years to remove my name from property. Meanwhile he has filed bankruptcy and according to the bank I am respondsible for the debt on house. My ex husband has lived in the house this whole time and is 3 yrs past due on mortgage. Is there anything I can do I do not want to file bankruptcy unless I have no other option.
Answer
The agreement between you and your husband does not affect the rights of the mortgage company. You might have to file bankruptcy on this debt, but first you have to actually be bankrupt.
Answer
Unfortunately, divorce decrees and judgments have no impact on who is responsible for the Note and Mortgage. If you and your ex were on the loan jointly you still bear the responsibility of the payments and satisfaction, even if you give up your property rights.
The worst part of this is that if you are not insolvent and don't have exemptions from judgment collection, then you COULD be saddled with garnishment and levy from an eventual deficiency judgment if there is one. You should consult with an asset protection attorney or bankruptcy attorney to discuss your options, and obligations. You may be in a position that filing bankruptcy is not a viable option.
I represent bankruptcy and foreclosure clients throughout the state and yours is not an uncommon situation. However, you may have options that aren't readily apparent without more information.
Good luck, and I suggest you contact an attorney sooner rather than later.
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