What can happen if I cant pay the house note after BK?

[Chucksoutalu]

Problems just come out of nowhere sometimes!
Ok, I am in Florida, already filed waiting for the end of the month 341. Ex wifes tells me she may be laid off by late summer from a county job due to budget cutting.
I pay the house note as part of my divorce so that my daughters have a safe place to live. My Ex pays the utilities and anything else. It is in both our names. My question is: If she loses her job and moves out, (back to momma), do I walk away from the house payment? I know it wont help me in the credit rebuilding area, and I sure cant send her money as well as keep the note on the house. Whats my options if any???!

[newbie2]

Problems just come out of nowhere sometimes!
Ok, I am in Florida, already filed waiting for the end of the month 341. Ex wifes tells me she may be laid off by late summer from a county job due to budget cutting.
I pay the house note as part of my divorce so that my daughters have a safe place to live. My Ex pays the utilities and anything else. It is in both our names. My question is: If she loses her job and moves out, (back to momma), do I walk away from the house payment? I know it wont help me in the credit rebuilding area, and I sure cant send her money as well as keep the note on the house. Whats my options if any???!

If you didn't redeem your house then yes, you can walk away and it will just be foreclosed upon. The bankruptcy will release you from the note (the promise to pay).

[BCA2009]

If your ex is on the note, then the bank will come after her. But you will be discharged. Can/will she file BK also?

But if your divorce required you to pay her a certain amout each month (to pay the mortgage), BK won't relieve you of that obligation.

Have you discussed this with your attorney?

[newbie2]

If your ex is on the note, then the bank will come after her. But you will be discharged. Can/will she file BK also?

But if your divorce required you to pay her a certain amout each month (to pay the mortgage), BK won't relieve you of that obligation.

Have you discussed this with your attorney?

Ohhhh I misread that part about the divorce / requirement. I apologize. If it is in the divorce decree that's another matter..

[Chucksoutalu]

I discussed with my attorney that regardless of my BK I wanted to keep the house for the sake of a safe place for my kids to live. So I did reaffirm the house.
My girls have about 5 years left till there 18. Afterthat my EX can buy me out of the remainder of the note or the house sells. Any compensation I get from the house is given to my daughters to help them start thier adult lives. I wont get anything.
The only thing I see to do is to let it play out and do what I can for my girls!

[neorecon]

If you reaffirmed then you 'can' walk away, but the bank will come after you which can ding your credit yet again for the foreclosure process.

That is why many suggest retain and pay, or plan to reaffirm but not sign the papers with the mortgage company.

Since you reaffirmed your mortgage, you don't have protection under your bankruptcy unless you can re-file your intentions.

Unless you haven't signed the reaffirmation paperwork yet, I'd highly suggest discussing your options with your attorney.