How do i get my name off of the house ?
in [Divorce]
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From: lmont on 28 Oct 2005 21:59 My wife has the marital home until our divorce is finalized...the judge ordered her to pay the notes..I don't want the mortgage from the first home to interfere with my chances of getting a second place to live...I don't have an attorney(can't afford)...can anyone give me advice on how to cut financial ties?
From: Longshot on 28 Oct 2005 22:27 you can quit claim the deed but that doesnt remove your financial responsibility from the debt. the only way is for the wife to refinance the house. <lmont(a)webtv.net> wrote in message news:20504-4362D791-295(a)storefull-3174.bay.webtv.net... > My wife has the marital home until our divorce is finalized...the judge > ordered her to pay the notes..I don't want the mortgage from the first > home to interfere with my chances of getting a second place to live...I > don't have an attorney(can't afford)...can anyone give me advice on how > to cut financial ties? >
From: rj on 28 Oct 2005 23:04 On Sat, 29 Oct 2005 02:27:45 GMT, "Longshot" <longshot(a)sol.com> wrote: >you can quit claim the deed but that doesnt remove your financial >responsibility from the debt. the only way is for the wife to refinance the >house. True enough. But there's one problem: What happens if either the wife is not willing to do this, or if the wife (on her own) doesn't have the financial resources to persuade a mortgage company to lend her, alone, all that money... Happens all the time, and it can be a real headache. rj
From: longshot on 29 Oct 2005 18:58 "rj" <rjklutz(a)hotmail.com> wrote in message news:5jp5m1th355f01dsoto73g43p6cj6fua30(a)4ax.com... > On Sat, 29 Oct 2005 02:27:45 GMT, "Longshot" <longshot(a)sol.com> wrote: > >>you can quit claim the deed but that doesnt remove your financial >>responsibility from the debt. the only way is for the wife to refinance >>the >>house. > > True enough. But there's one problem: What happens if either the > wife is not willing to do this, or if the wife (on her own) doesn't > have the financial resources to persuade a mortgage company to lend > her, alone, all that money... > > Happens all the time, and it can be a real headache. > > rj FWIW : my lawyer tells me if the STBX ever makes a payment late she is in contempt of court for causing me harm (in ruining my credit).
From: Rog' on 29 Oct 2005 19:23
"longshot" <longshot(a)aol.com> wrote: > FWIW : my lawyer tells me if the STBX ever makes a > payment late she is in contempt of court... FWIW, a lot of good that'll do you after your credit's ruined. BTW, in my state, payments on a debt are not subject to the court's contempt powers. Even where they are, if she shows that there were circumstances beyond her control (such as an illness, loss of job, emergency, etc.) then her contempt will be found "not-willful" and nothing will happen. If a person is going to rely on an ex-spouse to make payments on a mortgage on which they are liable, they need not only to have a psych-eval, but also a life insurance policy on the payer and a lien on the property for which the payment is to be made. =R= |