The house was mine that I worked so hard to build after we divorced due to his control issues. I took him back a few years later mainly because of our autistic son. He moved in and we built on to the house only after I filled out a(quit claim) so he would have interest in it. Now the payment is so high I can't afford to keep it. I am so angry that he has so much control over me and now without him I lose my home. I want him out of my life and he has no good reason for this debt. Can I file a civil suit? We are not common law. My payments went from $ 635.00 in 1996 to $2500.00 in 2007. All but 60,000 is left in equity and he will take half of that. This place is beautiful 20 acres in Montana. My only way is if I could rent it out by the week as an investment property to vacationers. Any good answers for me?
2007-06-27 20:25:09 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Visit www.suzeorman.com and write her a letter. I'm sure she'll be able to help you.
2007-06-27 20:33:57 · answer #1 · answered by roche_leonor 5 · 0⤊ 0⤋
Well you can't decide you wanted the lobster after you ate the stake and not expect to pay for both.
Your only option was if it was less than 72 hours from the refinance and use your out clause. I think you are much farther than that by now. Just like he made bad decisions on what he spent in credit cards can't reverse the charges you can't reverse your quick claim and refinance decisions.
But wait all is not loss. If he was willing to sign something saying he owed you the money it might stand up in court.
Also remember you can sue anyone but it don't mean you will win. It seems like you would be spending good money to try and get money that he will never be able to pay anyway.
Sorry to have to say, chalk it up for a really expensive lesson.
2007-06-27 20:37:42 · answer #2 · answered by Bestbank Real Estate 3 · 1⤊ 0⤋
The only story sadder I have heard was an art teacher acquaintance that co-signed a student loan to get her boyfriend through law school. The courts will only take up issues with terms defined in contracts. The law graduate claims the funds involved was a gift. There are no papers to refute such an assertion. To begin any civil action before the 4 years' statute of limitation rules apply needs $18,000 retainer plus another $6,000 in negotiable securities held in joint account with a law firm, with no guarantees. I know Texas and Florida are Homestead Exemption states. Home owners can declare bankruptcy and prevent one of their properties from being listed as an asset.
For your problem, it's going to take a pretty creative legal scheme such as incorporation (everyone gets a new contract) and you poison the assets with your own debts.
2007-06-27 20:49:09 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Without trying to be cruel, I will admit that you made some VERY bad financial decisions with your now defunct marriage. It sounds like you willingly (at the time) gave him half equity in your property and he somehow managed to run up a huge debt thanks to his equity position.
You will not have any success in such a civil suit, since you gave him what you now want back.
If you CAN rent it out, do so, to raise some cash to assist you in keeping the property. Only you can make the financial decision as to how to proceed here, but as far as recovering what you gave him, I am sad to inform you that you cannot successfully sue him to get it back.
Good luck.
2007-06-27 23:46:08 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
he may want to talk with a counselor or a psychiatrist. He may have an underlying issue that is contributing to his spending frenzy. I have a neighbor who is just like him. She can't stop shopping or spending money even if she doesn't have it to spend. She just filed bankruptcy too. She found out she suffers from manic depression. She found out her habit is a lame attempt to pick up her spirits if even for a short time. She is also an accountant by trade. She is doing so much better now that she is on meds. He may have something going on he isn't aware of. But, regardless, you can't allow him to run over you financially. You have to give him a choice, he gets proffessional help or it's over. You may want to speak with a lawyer about your legal rights. He needs help. He has to admit he has a problem first though. I wouldn't let him have a chance to sink you further. Either he gets help or he walks. Plain and simple.
2007-06-27 20:33:25 · answer #5 · answered by Stefbear 5 · 1⤊ 1⤋
You took him back, you deal with the consequences.
2007-06-27 20:27:24 · answer #6 · answered by Anonymous · 1⤊ 0⤋
take out an insurance policy on him and have him whacked
2007-06-27 20:28:02 · answer #7 · answered by Anonymous · 1⤊ 0⤋