Divorce and Foreclosure

Posted on November 28, 2010

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If you are divorcing your spouse and your house is being foreclosed on, each partner is liable for the debt. When in the midst of both the foreclosure and divorce, make sure you have a bankruptcy lawyer as well as a divorce lawyer for possible counsel.

The spouse who has child custody may find sympathy with the judge, especially if they are financially insolvent. The courts may order the other partner to pay the house payments.

If the dwelling is about to be repossessed, the court can issue a temporary injunction against the sale of the house. If possible, one spouse can buy out the other spouse’s equity, but this of course means the selling spouse will have their name taken off the mortgage and not be liable for any monies owed in the case of foreclosure.

See Axsmith.net for more information.

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