Posted on: 05th Oct, 2012 01:03 am
my husband's ex-wife got the house in their divorce. it specifically states in the decree that he was to refinance the house up to 60 days after the divorce was finalized so that his name is removed from the loan. it also stated that she was to do this every 6 months until his name was removed and that he would be held faultless. and yes, it specifically states that he will be held faultless. of course, since she is such a lovely woman that never happened. as a matter of fact, the house went in to foreclosure and she ended up filing bankruptcy on it. his credit is now in the toilet. he is stuck with is on his report for the next 10 years? is there anything at all we can do?
Hi Josh,
There is hardly anything that can be done now. It will take quite some time to clear the messed up credit. As the loan was not refinanced, your husband will be considered as liable for the loan. However, if your husband has not filed bankruptcy, then it won't be reported to his credit report.
Take care.
There is hardly anything that can be done now. It will take quite some time to clear the messed up credit. As the loan was not refinanced, your husband will be considered as liable for the loan. However, if your husband has not filed bankruptcy, then it won't be reported to his credit report.
Take care.
Hi Josh,
If the mortgage has been included in the bankruptcy filing, then the ex-wife won't be liable for it any more. The lender might come after your husband in order to get the dues.
Thanks
If the mortgage has been included in the bankruptcy filing, then the ex-wife won't be liable for it any more. The lender might come after your husband in order to get the dues.
Thanks