Hmm. Now I'm worried.

[GreenInkOnPaper]

Hey, everybody.

The latest development on DH's CH7:

I told you before that the only joint debt we have is a home that we "sold" on contract for deed. I am legally seperated from DH, and the judge awarded ownership of the house to me. I know~ doesn't mean anything in real world. Anyhow, now my buyers are behind on the payment. The monthly payment is $1360, and I just got $700 today in the mail for December's payment. So, I am sending out the notice of default to them today. Their $1360 payment is only about $40 over what it costs me to own the home, so I'm not making money on the deal. I see that they are about to crash and burn on this deal, and DH and his attorney want to include the house in his BK.

My problem is that since I am NOT filing, the mortgage company is just going to come after me for any defecit due after a forclosure. I don't have any major debt, so no reason for me to file. But damn, if I have to cme up with thousands of dollars for a mortgage deficit, should I go ahead and file, too?

[Dollar Bill]

Is OK a community property state?

Is both you and DH on the deed purchased together?

[GreenInkOnPaper]

Ok is not a community state.
Yes, both of us are on the deed.

[Tbornetun]

Let the husband file on it, wait to see what happens. If it does foreclose, they are not going to get a deficiency judgment immediately, sometimes they never do. We foreclosed 2.5 years ago, the have never come after me for the deficiency or 1099ed me, in fact it shows as foreclosure with a zero balance on my credit report. I wouldn't jump the gun, just wait and see how it unfolds. Whether you husband files on it or not is not going to effect you at all, you will still owe the debt either way.