Divorce. Mortgage ALMOST in foreclosure, Quit Claim and BK.. kind of a mess

[amber78]

I am severly confused about my present situation.

I JUST got divorced, but nothing has been ordered yet and wont be until April 1st.  My lawyer and I are requesting a quit deed claim on the two houses my ex and I own together.  They have been vacant for a year and will most likely go into foreclosure this summer (cant now due to my ex being on active duty last year).  My ex has been refusing to work with me in any way. wont sign paper work for short sale, wont work with relators or the banks...so my lawyer suggested a quit claim.  I also just retained a lawyer for Chapter 7 BK.

I dont understand how all these parts will work together?

I will find out April 1st if quit deed was ordered. I also plan to file BK on both houses.. What will this make my credit score look like?  Can they essentially foreclose on me if I have a quitdeed and BK started?

I just want to get out of this housing mess...

[mebell]

Your attorney is filing a quit claim deed for you? You don't want interest in the properties, is that what I am getting from this?

[ezdriver]

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@amber78 wrote:

I am severly confused about my present situation.

I JUST got divorced, but nothing has been ordered yet and wont be until April 1st.  My lawyer and I are requesting a quit deed claim on the two houses my ex and I own together.  They have been vacant for a year and will most likely go into foreclosure this summer (cant now due to my ex being on active duty last year).  My ex has been refusing to work with me in any way. wont sign paper work for short sale, wont work with relators or the banks...so my lawyer suggested a quit claim.  I also just retained a lawyer for Chapter 7 BK.

I dont understand how all these parts will work together?

I will find out April 1st if quit deed was ordered. I also plan to file BK on both houses.. What will this make my credit score look like?  Can they essentially foreclose on me if I have a quitdeed and BK started?

I just want to get out of this housing mess...

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Once you file your bankruptcy petition, no creditor action will happen until after your discharge is granted by the court. The discharge will remove your liability for repayment of the mortgages.

Removing your name from the deeds does not remove your name from the mortgage note. The mortgagor has to foreclose on those properties [or offer a deed in lieu or shortsale] in order to remove your name from the mortgage notes.

When the discharge is over, start your credit rebuilding efforts. You will find a wealth of information in this forum to guid you along the way.

[amber78]

Since my ex has refused to sign paperwork for relators or the banks, since one house is underwater and the other one barely is worth anything, since neither one of the mortgages have been paid since last summer I want NOTHING to do with these homes.  On April 1st it will be decided if I can quit claim these and give them to my ex... Im assuming that means the deeds will then only be in my ex's name.  I understand that means I will still be responsible for both mortgages, but Im hoping the CH7 bankruptcy will then end my finanical obligation as well.. leaving me free in all ways from these houses.. or at least that is what I hope it all means..