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financiallynaive

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Joint Ownership and Bankruptcy
Hi there,

I owned a house with an ex-boyfriend of mine and after we split he decided to keep the house and continue making payments. Recently he has stopped making payments and is going to file for bankruptcy (chapter 7 I think). I'm worried and confused as to how this is going to affect me. I notice my credit report is already affected by the non payments. I no longer live in the country and have an apartment and can't afford to pay the morgage on the jointly owned property.

Can you explain to me what happens if he files for chapter 7 bankruptcy and how this affects me and the mortgage we had together?

Additional information: The property is in Louisiana and the bank is Chase. Thanks so much!

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Since you purchased the home together, you will always be liable for the mortgage until and unless he re-finances the mortgage into his name only.  If he files BK then they'll come after you.  Sorry it isn't better news.

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