Our divorce was finalized on August 31 2007. We own a home that are currently on the market. It says in the decree that we are equally responsible for the mortgage until the home is sold.
Now I can't stand being a "roomate" with him and need to move out as soon as possible. If I do move out, do I still need to pay half of the mortgage? Especially when he asked me to move out?
The jurisdiction state is Iowa. Thanks
2007-12-16 13:13:09 · 16 answers · asked by Anonymous in Family & Relationships ➔ Marriage & Divorce
You are probably responsible for the debt jointly and separately. The bank can go after either or both for payments. Your obligation to the bank hasn't changed.
If the bank came after you, your only recourse would be to take your ex to court for violating his part of the decree. But you are on the hook until the debt is repaid.
2007-12-16 13:19:00 · answer #1 · answered by Lochlain 4 · 0⤊ 0⤋
Are you obligated for the mortgage? Yes! Are there ways that you are able to get off of the note faster? Yes!
I am am a mortgage consultant that works in Des Moines, I just did a loan like this last month with no problems.
Give me a call to discuss at 515-271-8960 and ask for Jesse or email me at jessemccrady@fcmortgage.com
Thanks
2007-12-18 06:07:11 · answer #2 · answered by jtm7332 1 · 0⤊ 0⤋
probably you are obligated to pay half regardless of where you reside--it is a joint asset.
A separate negotiation may be in order regarding the house before sale:
both move out offer it for rent to defray mortgage expenses until sold,
alternate months to be paid by each partner
(sounds like a fight to me )
contact a mediator to come up with some form of agreement.
both parties in divorce are so bitter that it opens the door to those who specialize in milking that angst for all its worth----they both lose and the one between gets the loot.
this why we love lawyers so much
2007-12-16 13:24:26 · answer #3 · answered by klby 6 · 0⤊ 0⤋
Yes. If you signed, you're responsible and a divorce decree won't dischage your obligation to the lender. By the same token, you have just as much right to live there as he does.
Without knowing the circumstances of the divorce, why in the world did your lawyer not act to get him out of the house?You're being taken advantage of.
Your lawyer needs to learn what hardball means.
2007-12-16 13:23:40 · answer #4 · answered by jasper addleton 4 · 0⤊ 1⤋
If you don't pay your half, he can take it out of the proceeds of the sale. Either way, he has the right to recover your half of the mortgage payments until the house is sold.
2007-12-16 14:10:08 · answer #5 · answered by rlb1961 3 · 0⤊ 0⤋
Unless it is stated in the decree about either of you living elsewhere and splitting payments for that housing, yes you are definitely responsible. It's been four months - maybe you should decrease the price of your house and get rid of it asap.
2007-12-16 13:26:02 · answer #6 · answered by GJax 2 · 0⤊ 0⤋
I think so if your name is on the mortgage. If he doesn't cover it for you than both of you credit ratings go down the tubes. But you should speak with your lender or lawer rather that a bunch of people who may, like me, have nothing but an educated guess.
2007-12-16 13:18:27 · answer #7 · answered by jakenyr 3 · 0⤊ 0⤋
I would think so, if you are equally responsible.
If you can find him a roommate to help and he agrees to have a roommate, that might work out. But unless you get some kind of written agreement from your ex that he will assume full mortgage payment, expect to pay.
2007-12-16 13:17:34 · answer #8 · answered by shrinkydinkheart 4 · 3⤊ 0⤋
Yes you still have to pay half of the mortgage until it is sold.
2007-12-16 14:57:17 · answer #9 · answered by kim h 7 · 0⤊ 0⤋
Doesn't matter if you live there or not...if your name is on the mortgage you are still financially responsible until the house is sold.
2007-12-16 13:21:58 · answer #10 · answered by Bears Mom 7 · 0⤊ 0⤋