How much equity am I allowed to keep when selling my house if I file bankruptcy?
I am getting a divorce. The mortgage on my house is in my name only. The title is actually in both names. My soon to be Ex-Husband still lives here, he is refusing to pay the house payment. He wants them to foreclose on me. I want to sell the house and use the equity to pay off some debt. The total equity after selling the house would be about $ 60,000. We have a total of other assets of $ 50,000. The total assets we have are $ 110,000. The total debt owed is $ 44,000. The equity and debt are supposed to be split 50/50, so 50% of the total equity left would be $ 33,000. If I file bankruptcy would I be able to keep a portion of the 33,000 to hopefully have for deposits on a new home to rent, or such? My soon to be Ex-Husband would not be filing for bankruptcy. How would all this affect him?