Legal Question in Bankruptcy in Illinois

Re: home loan

If he files bankruptcy, you alone will be liable on the loan.

Your best course of action is to sell the house (even at a loss), unless you want to keep it and be responsible for it

Re: home loan

It would depend on what his intention is for the home. Even if it is discharged thru the bankruptcy, it is still your home to sell. if you are not filing the case, as a joint owner, you are always responsible for the mortgage payment.

Divorce and bankruptcy often are closely intertwined. I have written about this on my blog at http://chicago-bankruptcy.blogspot.com/2007/01/divorce-bankruptcy-and-real-estate.html

it is important to work with your divorce and bankruptcy lawyer to set up each case to get the results you desire. Fortunately, my firm handles both types of cases.