He walked out on 3/3/07 and moved in with another woman. I do not want the home we shared together, but he does. He claims he will make the payments until he can refinance in his own name (joint mortgage account). If for, some reason he can not make the payments can I get him removed from the home? We are in agreement on everything and are trying to file the Divorce without lawyers, but with the uncertainty of the home I wanted to make sure what would happen.
2007-05-03 23:53:38 · 7 answers · asked by Hope7582 1 in Family & Relationships ➔ Marriage & Divorce
He is giving you half of the equity in the home right?
Here you go right off my Indiana divorce decree:
Real Property: The real property of the parties located at >>>>>>>> shall be the exclusive property of the husband (in your case). Wife agrees to execute a Quit Cliam Deed transferring her interest in such real property to Husband. Husband shall pay any mortgage obligation due and owing on such real property, all taxes, utilities, maintenance and upkeep, and shall hold the Wife harmless on the same.
2007-05-04 00:08:34 · answer #1 · answered by abc 7 · 0⤊ 1⤋
Damn the cost, you need an attorney. You both own the home and if he does not make the payments the house will be foreclosed on and you will be included. If anyone is injured on the property you are also still liable. Your husband needs to refinance it NOW. You need to have your name removed from the Deed and have an appraisal to establish what equity the house has and how you will be compensated for your portion. Your husband can be ordered to remove you from the deed by having the mortgage company agree to take you off or by securing a new note. The judge can also order it sold and the proceeds after costs be divided between you.
2007-05-04 07:18:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In the divorce decree have it stated that he must refinance within a certain amount of time (if your nervous, make it a very short period). As it stands, if he doesn't pay it will hurt your credit rating as well as his.
I'm not sure about the removal question, but make sure you protect yourself by including the above info. You might want to put in the decree that he pay you your half of the equity and that you'll do a Quit Claim Deed. However, that won't protect you from foreclosure and ruined credit if he should not decide to pay. The mortgage company will come after you if he doesn't keep his word to you as long as you are on the mortgage.
The clean and clear thing to do is sell the home and split any profits.
2007-05-04 07:16:57 · answer #3 · answered by Dino 4 · 0⤊ 0⤋
The mortgage company is not a party to your divorce decree, and therefore they are not bound by it.
The loan would have to be refinanced in your name/his name alone in order to get the other party off of it.
Do NOT sign a quit claim, because that removes your name from the title, but not the mortgage, so it means you have no interest in the property, but you are still financially responsible in the event that he defaults, so it will ruin your credit along with his and the mortgage company can, and will, seek a deficiency judgment against both of you for their loss. With that said, if the court has already ordered you to quit claim it, then you have to, but if it has not been ordered, then you need to request instead that the court order him to refinance the loan in his name within a specific timeframe or to sell the property if he’s unable to do that. And if you request it, then the court should order it.
2007-05-04 08:28:25 · answer #4 · answered by kp 7 · 0⤊ 0⤋
If the house is in your name to not let him move in. Without going to the bank first and let them know that he's making the payments. If the house is in your name, and he don't make the payments at your credit that goes bad. Giving somebody removed from the house if there's kids is real hard and by the time the courts can get him out. The banks will have repossessed the house
2007-05-04 07:00:53 · answer #5 · answered by easymoney 6 · 0⤊ 1⤋
Once it is in his name, if he defaults it is on him. If he defaults before then, it is on both of you. If he as a job that he can keep up with the home things should be fine. If he cannot secure it, then you will have some new choices to make.
2007-05-04 06:59:45 · answer #6 · answered by treasuredwife69 5 · 0⤊ 0⤋
Get an attorney! Never depend on the answers you get from people on here. You need to know what to do to protect yourself. And you need to know what you can legally do. Good luck.
2007-05-04 07:36:56 · answer #7 · answered by Cat Lover 7 · 0⤊ 0⤋