house foreclosure because ex didn't pay house payment
Just wondering if anyone has run into this situation themselves or through a friend, and what happened in the end.
My ex-husband was awarded the house in our divorce (3 years ago). I removed my name from the deed and my husband was ordered through our decree to refinance or sell the house within 18 months. After a year, his business started going down the tubes. He stopped making the house payment and couldn't afford to sell the house (I found all of this out when I took him back to court and found out then.. after the house was 6 months behind in payments).
He filed bankrupty and "gave the house back", but even so, there's been no foreclosure yet. My name is on the loan. My name is not on the deed (so I can't sell it).
My attorney says there is nothing to do about the decree because he filed bankruptcy and she doesn't know if the decree would hold up after that (besides, he is reasonably broke, right?)
Just FYI.. I am not on speaking terms with my ex (his wife hates me for some reason..), so please don't suggest I contact him for whatever reason.
My question is really ... what will happen when the bank forecloses? I know I can be held accountable if there is not enough $$ to cover the expenses, but I just want to hear someone else's experiences so that I know what to expect, regardless of your state of residence. I would just like to know that someone has been through this and survived the financial fall-out. :(
Thanks in advance.