Posted on: 19th Jan, 2012 03:13 pm
Good evening,
My husband and I divorced in 2004. He quit claimed the house to me and I have the recorded copy. I am about 5-6 months behind and trying to modify my mortgage or get reinstated. Anyway, my ex is extremely upset...is he still held financially responsible? And if so, what can I do to rectify his situation?
My husband and I divorced in 2004. He quit claimed the house to me and I have the recorded copy. I am about 5-6 months behind and trying to modify my mortgage or get reinstated. Anyway, my ex is extremely upset...is he still held financially responsible? And if so, what can I do to rectify his situation?
unfortunately, with him being a cosigner on the loan, there is nothing that can be done to protect him or his credit. mortgages are tied and locked in to those who signed the note. the only way off the loan is a refinance or to sell the home. initiate the hafa short sale and try to sell the house. if you cant, then do the deed in lieu, as these will be less drastic to your credit, vs. a foreclosure. good luck!
Hi Druesga!
Welcome to forums!
If your ex-husband's name is mentioned on the mortgage docs, then he is still liable for the mortgage payments. And your late payments toward the mortgage will have a negative impact on his credit report.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your ex-husband's name is mentioned on the mortgage docs, then he is still liable for the mortgage payments. And your late payments toward the mortgage will have a negative impact on his credit report.
Feel free to ask if you've further queries.
Sussane
