Question by  tajwilliams (1)

My mortgages are underwater. Can I cram down or strip off in my filings?

My ex-wife was on the deed and signed a quit claim.


Answer by  tamarawilhite (17883)

If her name is on the mortgage, she is obligated to pay the debt regardless of the quit claim. You can seek to refinance the mortgages into a single loan to get a lower rate. If she is not paying mortgage payments according to a divorce degree, go to court.


Answer by  xman60 (11)

Yes. If the asset is underwater, the second mortgage is no longer secured by the asset. The second mortgage is not secured by anything of value.

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