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  1. #1
    Join Date
    Jan 2010

    Unhappy Bankruptcy and Tax Liens

    Hi. I live in the state of VA. I moved here 3 years ago, bought a house, and got married. At the time, I had better credit than my husband but he made more money. The lender advised us to only put me on the mortgage, but my husband wouldn't agree to pay half the payment unless he was also on the deed. I stupidly agreed and then the roof caved in on me. I took out all of my retirement $ to pay for the downpayment, which I had my attorney write up a document saying I would get that back if the house sold. However, my hubby failed to tell me he owed the IRS a huge amt of $ and they put a lien on the house. The house has also lost about 55K in equity since we've moved here due to the economy. My real estate agent said that I cannot even sell it, unless I bring 30K to the table to pay off the mortgage or ask the mortg co. if they will take a 30K short sale (which is doubtful.) I have also gained about 15K in credit card debt since meeting my husband and have no money, retirement, or credit anymore. I am trying to divorce him now (which is really hard in VA) but don't know what I can do with the house. I really don't want to pay off his tax debt and become more in debt myself but would take a credit hit just to not pay off his debt. I don't know if foreclosure or bankruptcy would even help. I can't pay for the house by myself. He won't agree to sell unless his debt is paid. Any ideas???

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Bankruptcy and Tax Liens

    Do you have an attorney representing you in the divorce? It sounds like you're in a pretty big financial hole and, if you have a lawyer, you would benefit from legal advice.

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