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50% Owner of House Files Bankruptcy

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  • 02-08-2010, 07:44 PM
    UWHuskyfan
    50% Owner of House Files Bankruptcy
    :wallbang:My question involves bankruptcy in the state of: Washington

    I purchased a house with my ex girlfriend a few years ago. On title, we are 50% interest holders. I have assumed all payments for the past 10 months and have pursued a loan modification with my lender Wells Fargo. She has filed bankruptcy due to large amounts of personal debt and of course included the house (which is underwater). I can't afford to keep the house without the modification on my own...and the lender is requiring a quit claim deed to proceed with the modification process. However, this process will have to start all over now that the house is in bankruptcy.

    My question is, will the court come to me and ask to assume her debt?
    Is it possible to assume the debt and get a loan mod through?
  • 02-09-2010, 09:42 PM
    Mr. Knowitall
    Re: 50% Owner of House Files Bankruptcy
    I guess we're supposed to infer that there's no equity in the home, or that you're upside-down? And what's the deal with the quitclaim deed the lender wants? The lender is willing to modify the loan with you as the sole borrower if your ex- quitclaims the property to you?
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