Unfortunately, the terms of a divorce decree are enforceable only between yourself and your former spouse. A divorce decree does not take the obligated parties off a debt. Additionally, transfer of the title of the property through a quit claim deed does not remove you as an obligated party from the mortgage. If you have signed on the mortgage then you may be responsible for a deficiency balance on the mortgage after the foreclosure. Your ex-wife's bankruptcy only protects her, not you....
I agree with Attorney Chen, your obligation to pay rent to the landlord exists regardless of the status of the loan on the property. Once the property is foreclosed, your obligation to pay will be to the new owner. However, in most cases the new owner want the tenant to move and does not press the issue of rent payment. Under federal law, you have 90 days as a tenant to move from a rental property that has been foreclosed.
You have to refer to your lease document. If the lease requires no notice at it termination then his notification is not require. However, this is not the normal terms of a lease. Generally, the landlord is required to provide 30-day notice. If the landlord has more than four units in your city other rules apply. Contact an attorney to review the lease. The landlord is still responsible for returning you security deposit.
Mr. Krumbein is correct. I would add that if your husband is ultimately sued for the debt, a garnishment of any joint bank account could effect any funds you have in that account until you tprove ownership. Additionally, a garnishment of your husband's wages will take 25 percent. This could have a significant impact on your household. You may want to encourage your husband to consider filing a bankruptcy to eliminate his debt and the risk it brings to the family income. We offer a free...
ssIf the credit card company wins a judgment your SSI is not vulnerable to garnishment. However, your property is vulnerable to a lien if you are on title. You may have other vulnerabilities. You should consult a bankruptcy attorney to determine your options. Many, such as us, offer free consultations and payment plans to make filing affordable.
John G. Merna
The Merna Law Group
3615 Virginia Beach Blvd.
In addition to the information provided by my colleagues you should weight the long term impact of having an eviction on your record. If you vacate prior to the eviction hearing and attend the hearing to advise the court they will generally not enter the judgment for eviction.
If the house has already foreclosed then "your friend" does not have the authority to rent it. The person or company that purchased it at foreclosure is the actual owner or landlord. The 90 days she speaks of only applies to an existing lease at the time of the foreclosure.
It may be possible to recoup the funds from the creditor. Additionally, if you were to file a bankruptcy before the December 21st date you could recover all the funds withheld during this garnishment cycle. Given that your credit is already bad and you have at least one judgment a bankruptcy might be of value. To explore this option contact us below.
John G. Merna, Esq.
The Merna Law Group, PC
3623 Virginia Beach Blvd.,
Virginia Beach, VA 23452
I would disagree with my two colleagues. A foreclosure after the filing of a bankruptcy should not effect your credit at all. The reason for this is that bankruptcy stops all attempts to collect on a discharged debt. Credit reporting is recognized as a coercive means to force debtors to pay their debt. Therefore, any post-bankruptcy reporting by the mortgage lender would be in violation of your bankruptcy. This would be different if the foreclosure occurred through the judicial process....
If the case was filed after the notice of sale then the trustee will have to renotice the sale to proceed with the foreclosure. However, the foreclosure can not proceed unless the mortgage company files a Motion for Relief from the Automatic Stay so they may proceed with the foreclosure or you case is discharged. Generally, it takes about a month to get relief from the Automatic Stay although their are faster mechanisms if they wished to speed it up.