My house which I have owned for one year (valued at 282K) was deeded to me in my divorce. Can lenders put a lein on my home for my ex-spouses debts? My husband has racked up many debts (50K worth) since our seperation and our loan is in both of our names, only the title is in mine. Can lenders put a lein on my home for his debts? In my divorce I specified all of his debts that he is liable for and I wasnever onhis credit cars etc. I established my own credit history. The divorce decree of course was signed by a judge but can they come after my house anyway since he is on the loan? The bank wants me to refinavce at a huge cost (10K) and 7.0 (myold loan was 6.0) so I would lose all my equity if I refinace. Do I have to refinace? Cant they just take his name off the loan?.
2007-03-07 15:50:52 · 6 answers · asked by terry r 1 in Business & Finance ➔ Renting & Real Estate
No... not unless those debts are also in your name. Contact your local Title Company. They can help by filing papers so that anyone who attempts to put a lien will not be able to do so.
2007-03-07 17:09:07 · answer #1 · answered by Mary M 1 · 0⤊ 0⤋
You have to send these people a copy of your divorce decree, they have no idea about your divorce and how the property or debts were divided. You have to inform them.
They can put anything against the house they want as long as they have no idea that he is no longer on title.
Your divorce attorney should have had you place a legal ad in the local newspaper indicating that debts accumulated by your ex-husband was his responsibility alone. He might have done that for you, you might ask if he did so.
The lender want to be sure that the person in the house is able to make the monthly mortgage payments.
You do not have to refinance through your current lender,find a mortgage broker in your local telephone book. They will fill out an application, run a credit check. After that they will be able to tell you your credit score, they will be able to tell you the loan programs you are qualified for. They will also be able to tell you your interest rate.
This person might be able to beat the interest rate as well as charge less for the refinance. To find out the cost of your refinance, tell the mortgage broker you want to see a Good Faith Estimate (GFE).
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-03-07 16:18:31 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
From what you write the debt is not your debt so the liens are likely not to be valid. The devil is in the details so you will really need to have a professional help you review the information.
If you used a divorce attorney ask them as they will already know your case and your details. They might advise that you mail a copy of the decree to the lenders requesting that they clean up their liens.
2007-03-07 19:00:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In Texas I would say they can put the lien on the house but never collect on it or hold you responsible as long as these debts were incurred solely by him and that a divorce decree shows these debts are his and his alone and that you are not responsible just because you were once married to him. I would not pay his debts. I would definitely seek the advice of a real estate attorney. I would ask them to remove his name but if they won't....find another mortgage company willing to refinance at a good rate to get his name off. I assume in the decree that he gave up all rights to the house and you have proof.
Liens can get placed on homes by "accident". Say for instance when a similar name like John Smith comes up. They can put a lien on my house if my name is John Smith but that doesn't make it a valid lien unless they can prove it was me that is responsible for the debt. Make them prove that they have a valid right to place a lien on your property or tell them to remove it "or else". GO TALK TO AN ATTORNEY.
2007-03-07 16:01:11 · answer #4 · answered by CHERI S 3 · 0⤊ 0⤋
His ex-girlfriends do not stay everywhere close to right here and he's by no potential remote from the living house lengthy sufficient. i be responsive to how lengthy he's had his motor vehicle so if it replaced into his motor vehicle, the image might could desire to be no greater advantageous than 2 years previous. specific, it somewhat is a question he might could desire to respond to. it would purely supply me the reason i prefer.
2016-10-17 13:10:12 · answer #5 · answered by ? 4 · 0⤊ 0⤋
GET AN ATTORNEY TO GET THOSE LOANS OUT OF YOUR NAME...
ASAP...
2007-03-07 15:57:11 · answer #6 · answered by cork 7 · 0⤊ 0⤋