My ex-husband was 30 days late in 2002 paying a mortgage and he won't refinance so that I can be removed from his home mortgage loan. It shows as bad credit in my credit report. Can anyone help?
The bad part is he is deployed.
2006-10-29 08:47:58 · 10 answers · asked by redgirl9992004 3 in Business & Finance ➔ Credit
You should have went to the right professionals and you would not be in this situation. Not only the ownership rights of the house should have been transferred but also the financial obligation against it. Unfortunately, you're still responsible and the loan company should be attempting to contacting you when payments are behind.
Because this was not done correctly in the first place I have to wonder if you still have ownership in the property. Was this transaction done at a title company and did you file a Quit Claim Deed on the property? If not, you still have have joint ownership in the property. What that means is that if the house was ever sold then the proceeds must go to you too. He would not be able to account for the transaction between the two of you because it was not done correctly. Take that as you will...
2006-10-29 09:20:48 · answer #1 · answered by Abbi G 2 · 0⤊ 0⤋
For one thing, don't make decisions this important by asking strangers on Yahoo for advise. If you'd gone to a professional in the first place he would have guided you through the proper steps.
Talk to the bank's mortgage officer. The loan is your responsibility since you didn't do that when you sold your interest.
One late payment isn't a problem. The highest rating from the credit agency is "No more than one late payment". It should be dropping off the record soon in any case.
2006-10-29 08:59:53 · answer #2 · answered by Nomadd 7 · 0⤊ 0⤋
First thing I would do would be to notify the military....his commanding officer. Military is tough when it comes to keeping debts paid on time. Also, can the bank prejudice your credit and not his. I am not certain, but isn't there a stay on debt while a soldier is a combat zone. Check it out.
You said you sold him your share of the house. Give the bank the paperwork. He must have recorded the property as only his when you sold him your share. Take that to the bank officer. Dispute the debt with the credit bureau.
Check out www.itsadebtorslife.com sometime. Great site!
2006-11-02 01:19:05 · answer #3 · answered by itsadebtorslife 1 · 0⤊ 0⤋
I agree with most of the people above....you paid for a divorce lawyer, now let him justify his fees and see if he can help you out. If you quitclaimed the property to your ex, you have no way to sell or deal with the property directly. If it's really from 2002, it wont' be affecting you that much and you can explain it to someone who underwrites loans manually. I doubt mortgage company will release you from liability since your husband is deployed.....however, it never hurts to ask.
2006-10-29 13:45:19 · answer #4 · answered by MJ 4 · 0⤊ 0⤋
you are still on the mortgage - sell the house!!!! You can sell it because you still own it.
Split the equity and give him back whatever $$$ he gave you when you "sold" him your share.
Since he's deployed and probably won't cooperate, get your lawyer to obtain a judge's order to sell the house on his behalf.
2006-10-29 08:53:07 · answer #5 · answered by Paula M 5 · 0⤊ 0⤋
One late pay in 2002 does not give you bad credit.
2006-10-29 10:08:54 · answer #6 · answered by bluzmelody 2 · 0⤊ 1⤋
WARNING!!!!!!!!!!!!!!!!!!!!!!!...
do not fall for scams like chris's. he's a new scammer/con artist/identity thief on the internet started operating since september 06, collecting member's personal details on yahoo answers, anyone reading this you must not fall for what he is offering, all he wants is your personal details, which he will probably sell to fraudsters or make a fraudulent crime himself to get a loan or something.
he is a criminal, i made an article about people like chris please read here
http://uk.answers.yahoo.com/question/index;_ylt=AtI3.OySY7TzlQLwrSoj_.EgBgx.?qid=20061029141819AAZsVPT
just read additional details
thanks!
2006-10-30 00:09:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
See if you can refi it for him.
You should have had the refi as a stipulation in selling your half to him in the first place.
2006-10-29 12:09:46 · answer #8 · answered by Hot Pants 5 · 0⤊ 0⤋
You are screwed. The finance company loves this situation, since it benefits them.
2006-10-29 08:49:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋
There is nothing you can do about it.
2006-10-31 15:12:59 · answer #10 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋