I am recently divorced. My ex lives in the house until the court-ordered sale of the property. We had a buyer until my ex pushed off the closing one too many times. The buyer quit on us and I just found out from the realtor that he (my ex) is filing bankruptcy. How will this affect me and my interest in the property? He is not paying the mortgage and I cannot afford to pay it. I had to move into my parents' house with my two little girls and cannot afford to pay any rent. I expected a nice little profit on the sale of the house to get me on my feet and now that is gone. Can the house be sold after the bankruptcy is completed? Can I claim my half of the profit? I need help desperately. My credit is being destroyed and I am losing sleep over this.
Thanks
Editor's Response
I know this is not a satisfying response, but, as I have told other readers, bankruptcy is not my specialty. I do know this, however: you need to talk to an attorney ASAP. If you have a family law attorney, you can start there. If he/she is not comfortable with the bankruptcy issues, she may be able to recommend someone who is. Also, a lot of bankruptcy attorneys offer a free initial consultation. You need to make sure that you protect whatever interest you own in the house, especially if, as you suggest, there is some equity. Good luck.