divorced for 6 mos. & she's already remarried but telling my boyfriend his name won't come off until she refinances the loan. He's now worried that if she remarried within 6 mos. she might also flake out on the loan. What can he do? Wouldn't the new husband want his name on the loan where they are living rather than the ex??
2007-08-03 02:07:59 · 6 answers · asked by COblonde 3 in Business & Finance ➔ Renting & Real Estate
Depends on the new husband. If he's a rat he knows darn well your boyfriend is still responsible for the mortgage because his name is on it. If the ex-wife decides she can't pay for some reason, your boyfriend is responsible. He needs to act on this now and tell her she's got 30 days to refinance or he'll force the sale. That ought to get her moving.
2007-08-03 02:15:25 · answer #1 · answered by Lady G 6 · 0⤊ 0⤋
What difference does her remarrying quickly make in whether she defaults on the loan? I'd think it would help her financial situation unless the guy is a complete deadbeat.
Usually the divorce decree gives her a time limit for refinancing. Your boyfriend should be monitoring the situation with the mortgage company to see if she's making payments.
That being said, I'm a bit concerned that you're that involved with the financial situation of someone you've (hopefully) been dating for less than six months.
2007-08-03 02:36:49 · answer #2 · answered by Shane 5 · 1⤊ 1⤋
Lenders do not and will not change the names of the responsible parties without a full refinance. Your boyfriend is still liable for the mortgage payments if his ex-wife defaults.
2007-08-03 05:17:39 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Your boyfriend is liable for the mortgage regardless of who recieved what in the divorce settlement.
The matter of refinancing should have been addressed during the divorce proceedings, if not, I would suggest he contact his attorney.
This is a business matter between your boyfriend and his ex. Let them handle this and keep your emotions aside.
2007-08-03 03:21:41 · answer #4 · answered by Mortgagemom 3 · 1⤊ 0⤋
Who got what in the settlement? If you boyfriends ex got the house then his lawyer should have taken care of that with filing the proper documents with the recorder of deeds office. If they both have an interest in the property, they she must buy his out if she plans on living there, or sell the home and distribute the monies evenly.
2007-08-03 02:17:10 · answer #5 · answered by M v 4 · 1⤊ 0⤋
Hi,
It's really difficult situation. Your boyfriend should persuade her for a mutual consent to get her name out of the deal. Or else, you should seeks some experts' assistance to legally sort out the issue. Checkout http://www.monetaryguru.com for some useful tips related to your query. Good luck!
2007-08-03 02:29:54 · answer #6 · answered by Anonymous · 1⤊ 0⤋