He said he contacted the mortgage co. & his lawyer filed a special warranty of deed to remove me from the mortgage. So last week i went to purchase a car & found that I am still on the mortgage & he has been late on the payment several times in the past 2 years. I called the mortgage co. & they say that they dont care what a judge has ordered I am still liable until he refinances the loan. So basically my question is I am at my ex's mercy until the loan is refinanced??? & it doesnt matter what the divorce decree says about him being soley financially responsible for all debts on this house??????
2007-05-22 05:09:20 · 9 answers · asked by patti720 2 in Business & Finance ➔ Renting & Real Estate
Thanks for the answers... I was thinking what about seeing if i can get him out of the house, I move back in the house & take up payments on the house.. since I havent had a mark against my credit since I left him?? I know I can make the payments on time. hmmmmm
2007-05-22 06:59:56 · update #1
YOur atty is an idiot. He should NEVER have taken you out of title until the mortgage was released. You are on the mortgage untill that mortgage is relased. Period.
Go back to the divorce court and ask that he be held in contempt; and dispute the late charges against your credit by stateing the terms and conditions of the settlement agreement. It's weak, but it's all you have
good luck
2007-05-22 05:15:44 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Sue your divorce attorney for incompetence.
I hear this kind of garbage all the time.
A JUDGE CANNOT REMOVE YOU FROM YOUR CONTRACTUAL OBLIGATION TO REPAY ANY LOAN IN A DIVORCE.
Now that I got that out of the way, your divorce attorney should have mandated a sale or refinance within 3-6 months of your divorce. I currently have 3 different clients, all divorced women, who have multiple collections and even a foreclosure on their record because of this. 2 can buy still by themselves. The one with the foreclosure, we're financing solely in her new husband's name. She can't do anything for 1-3 more years herself.
A quit claim deed or any other deed doesn't relieve you of your obligation to repay the note. In fact, it's really stupid to do these deeds, because now you have zero legal rights to that property, yet you are still joint and severally liable for the debt. Meaning, they can collect 100% of the debt from either of you separately or jointly. You owe on a home you don't owe. How dumb is that?
Seriously. Sue your stupid attorney. Maybe next time, he'll give better advice. I'm NOT saying it's your fault. You did what you were advised to do, and it was utterly incompetent advice.
2007-05-22 09:54:46 · answer #2 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
this is a very common problem in divorce, the loan company was not a party to the divorce not can they be, as such the divorce court has no power to force the loan company to remove you from the note, plain and simple
the only recourse is for the ex to refinance but this assumes he has good enough credit and the place can be refinanced if not you may have to go back into court and force a sell
even if you get a contempt charge against him, you do not want him in jail since he will not be able to pay the note, it will go into foreclosure running both of your credit
2007-05-22 06:14:50 · answer #3 · answered by goz1111 7 · 0⤊ 0⤋
What his lawyer did was file a quit claim deed to remove HIM from any ownership interest in the property. However, lenders will NOT remove anyone from mortgage obligations until the mortgage is retired by full payment of the obligation.
I have encountered this situation in real estate so often that I've long lost count. Your only option is to somehow convince your husband to refinance the property to obtain a mortgage in his name only. Until that is done, any late payments will affect both your credit histories.
2007-05-22 05:16:21 · answer #4 · answered by acermill 7 · 0⤊ 1⤋
The mortgage company is right. As long as your name is on the mortgage you are still responsible. This goes for any loan not only mortgages. I would contact your lawyer and have him get on your ex about making the payments on time as anything that happens with the mortgage (such as late payments) also goes on your credit report as well as his.
2007-05-22 05:17:29 · answer #5 · answered by housershoney 2 · 0⤊ 0⤋
you are on the hook until it is either paid off or refinanced. Basically you signed for it so you're responsible for payment if the ex doesn't. Just hope he don't go into foreclosure. You could also talk to a lawyer to see if there is anything that can be done legally. (like require him to refinance)
2007-05-22 05:17:25 · answer #6 · answered by New rider-- again 3 · 0⤊ 0⤋
My opinion is that your ex is in comtempt of court and can even go to jail.
Get an attorney.
Free legal aid search for all states: http://www.lawhelp.org/
Best of luck
2007-05-22 05:32:14 · answer #7 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
http://legalservices4less.blogspot.com/2007/05/is-there-any-alternative-to-divorce.html
2007-05-22 19:56:08 · answer #8 · answered by niomi 2 · 0⤊ 0⤋
this is really question for your lawyer. i would contact him asap!
2007-05-22 05:17:17 · answer #9 · answered by Natasa 2 · 0⤊ 0⤋