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    #1

    husband buying a house while I'm filing for chapter 7?

    So I bought a house before we were married. I have all the debt. I'm hoping to file chapter 7 in a couple of months alone (we live in a non community state). The plan was to keep the house and my car. After my discharge (hopefully!) we would sell my house and my husband would buy a house without any help from me. We found the perfect house for us at a great deal now. Just wondering what would happen if husband bought the house before I filed? Could I just then surrender my house in the chapter 7? I could use the new house payment towards the means tests right?

    (and for anyone that has been following along...no more talk of divorce...we have been going to counseling and things are better! )
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    #2
    I'd do nothing until you speak with your lawyer.
    Too questions come to mind-are you selling your house {that would mean you have some equity} or, dischatging it in bk. In your posts, you indicate both are possible.
    Also, if the mortgage is solely in your husands name, you likely won't get to use that as an expense because, you have no legal obligation to repay the loan.

    Comment

      #3
      I agree with "Keepmine". The most important thing is, your relationship. Get over the bk, and believe me, there will be MANY house bargains out there coming and DO NOT fall in love with one place.

      A marriage is TWO as ONE. You MUST pull together and get right first before any new purchase. Get "clean" first, then got get the house of your dreams. The important things are, get right with your relationship.

      ONLY, my opinion. 'Hub
      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

      Comment

        #4
        I have no wisdom to impart about the house but nice to see you are working things out!
        Filed Ch 7 -- July 9, 2008
        341 mtg ---- August 14, 2008
        Discharged ---- October 17, 2008
        Closed --------- December 11, 2009!

        Comment

          #5
          Glad to hear the marriage is working out

          I would consult with your lawyer before making any such change.
          May 31st, 2007: Petition Filed by my lawyer
          July 2nd, 2007: 341 Meeting Held
          September 4th, 2007: Discharged and Closed.

          Comment

            #6
            Originally posted by keepmine View Post
            I'd do nothing until you speak with your lawyer.
            Too questions come to mind-are you selling your house {that would mean you have some equity} or, dischatging it in bk. In your posts, you indicate both are possible.
            Also, if the mortgage is solely in your husands name, you likely won't get to use that as an expense because, you have no legal obligation to repay the loan.
            I don't think there is much equity in the house. If we to keep the house through my discharge and then sell it, maybe I could make a few grand. Who knows how long it would take to sell as well. It needs some work and it is really too small now that we are a family of three.

            What if I were to file chapter 7 and not reaffirm on the house...after my discharge couldn't I just walk away from the house?

            I understand that I if my husband bought a house now, alone, I wouldn't get to use it in the means shedules but wouldn't when they look at how much money he contributes towards the "household" and wouldn't he get to subtract that new mortgage from that? Does that make any sense?

            Comment

              #7
              Sure, the mortgage will be an expense he's soley responsible for.
              Whatever you do, don't reaffirm the mortgage on your old house. If you have too, just walk away post bk.

              Comment

                #8
                I am glad the two of you are working things out. 'Hub and I have had some rough spots and almost broke up a couple of times, but neither of us could concieve of a viable life w/o the other one in it.

                Our Best~~~~

                AC and ACH
                "To go bravely forward is to invite a miracle."

                "Worry is the darkroom where negatives are formed."

                Comment

                  #9
                  Originally posted by AngelinaCat View Post
                  I am glad the two of you are working things out. 'Hub and I have had some rough spots and almost broke up a couple of times, but neither of us could concieve of a viable life w/o the other one in it.

                  Our Best~~~~

                  AC and ACH

                  Thanks!

                  Comment

                    #10
                    Originally posted by Brookamy View Post
                    So I bought a house before we were married. I have all the debt. I'm hoping to file chapter 7 in a couple of months alone (we live in a non community state). The plan was to keep the house and my car. After my discharge (hopefully!) we would sell my house and my husband would buy a house without any help from me. We found the perfect house for us at a great deal now. Just wondering what would happen if husband bought the house before I filed? Could I just then surrender my house in the chapter 7? I could use the new house payment towards the means tests right?

                    (and for anyone that has been following along...no more talk of divorce...we have been going to counseling and things are better! )

                    I'm happy for you!! Whatever happens, you are facing it together.. and that's GREAT. I would give the scenario to your lawyer.. I think you've got a good idea about the way to make this happen with the house.. DON'T reaffirm, but act like you will. Then you can walk. Good luck!!
                    "You can never get enough of what you don't need to make you happy."
                    6/16/08: Attorney approached lenders to surrender old home
                    8/26/08: Met w/attorney RE: filing BK
                    9/29/08: Filing Chapter 7

                    Comment

                      #11
                      If I don't reafirm but walk away after my disharge, will I have a forecloser on my credit as well? How long of a process is it to just "walk away?"

                      Comment

                        #12
                        No if you don't reaffirm and later walk away the mortgage is still IIB and only 1 hit not 2 on credit.

                        How long it takes them to take it depends on your state laws.
                        May 31st, 2007: Petition Filed by my lawyer
                        July 2nd, 2007: 341 Meeting Held
                        September 4th, 2007: Discharged and Closed.

                        Comment

                          #13
                          Originally posted by Brookamy View Post

                          (and for anyone that has been following along...no more talk of divorce...we have been going to counseling and things are better! )
                          So happy to hear that you two are working on the marriage!!! Finances are the #1 problem in marriages! Good Luck!

                          Liz
                          May 2008 Hired 1st Attorney/Stopped paying CCs
                          May 21, 2009 Retained 2nd Attorney
                          May 28th - Filed for Ch 7 (FINALLY!)
                          9/11/09 - DISCHARGED!!!!

                          Comment

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