What to do if we want to sell our home during a divorce and after a bankruptcy discharge?

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What to do if we want to sell our home during a divorce and after a bankruptcy discharge?

We received our discharge almost 2 years ago and now going through a divorce. We didn’t reaffirm the mortgage but are still paying the loan to remain in the home. Are we able to sell the home in the divorce and split the proceeds if there are any? Can the bank still forclose on the house at any time because of the bankruptcy even if payments are still being made on time?

Asked on April 3, 2012 under Bankruptcy Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If payments with respect to the loan on the home that you are writing about are current and you are not in default of the loan or trust deed, I do not see a factual basis as to why the lender would want to foreclose on the property or even be legally able to do so.

As to selling the property during your marital dissolution, assuming you and your spouse can cooperate with each other and agree to any division of any net amount left over after the sale, I see no legal or even practical reason why you and the spouse cannot list the property to sell.

For a comfort level, I suggest that you consult with a family law attorney about the question you have written about if you have any further questions.


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