Divorcing in OR--short sale failed, spouse pushing bnkruptcy

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Posted by Kauri on August 30, 2003 at 19:32:31:

My (soon to be ex-) husband and I tried to sell our home in a short sale, but the lenders refused to accept the bid. It was the only offer we received in nearly 4 months of active listing. He now lives in another state and does not want the house. I am presently living in the house but have a job that is 80 miles from the property and do not want the house either. The commute is killing me. This bankruptcy issue is also delaying the divorce, which has been in process for a year.

He's pushing me--hard--to file joint bankruptcy. I'm not convinced that's in my best interest. I can't make all the mortgage payments alone, but could pay all my other debts not associated with the house provided he does not file bankruptcy independently after the divorce is complete. I fully realize that's a big IF.

If I agreed to do the bankruptcy with him, could I (we) sell the house for market value (less than is owed) and legally walk away from the balance? Or would that balance prevent the sale and/or trigger a foreclosure? How would this work??

At present, we are not in arrears but he tells me he is not going to make payment on one of the three mortgages held on the property as of 9/2003.

Advice please! Thank you.

Follow Ups:

• 3 mortgages and no one will budge? (url) - HousesPlus.com 12:51:55 09/13/03 (0)
• Re: Divorcing in OR--short sale failed, spouse pushing bnkru - Lughead 02:21:25 08/31/03 (1)
  • Re: Divorcing in OR--short sale failed, spouse pushing bnkru - Jim Mandas 14:59:53 09/04/03 (0)

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: My (soon to be ex-) husband and I tried to sell our home in a short sale, but the lenders refused to accept the bid.  It was the only offer we received in nearly 4 months of active listing.  He now lives in another state and does not want the house.  I am presently living in the house but have a job that is 80 miles from the property and do not want the house either.  The commute is killing me.  This bankruptcy issue is also delaying the divorce, which has been in process for a year.





: He's pushing me--hard--to file joint bankruptcy.  I'm not convinced that's in my best interest.  I can't make all the mortgage payments alone, but could pay all my other debts not associated with the house provided he does not file bankruptcy independently after the divorce is complete.  I fully realize that's a big IF.





: If I agreed to do the bankruptcy with him, could I (we) sell the house for market value (less than is owed) and legally walk away from the balance?  Or would that balance prevent the sale and/or trigger a foreclosure?  How would this work?? 





: At present, we are not in arrears but he tells me he is not going to make payment on one of the three mortgages held on the property as of 9/2003.  





: Advice please! Thank you.








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