Posted on: 04th Feb, 2008 03:44 pm
okay - long story, sticky situation...
was married, my husband & i purchased a home in 2000, we refinanced in 2005, then separated in 2006. somehow he managed to refinance our home in 2006 without my name on the loan, although i signed the loan papers. now we are divorced but i am still on title to the house. he has not made a house payment since nov. 2006, filed for bankruptcy protection in 2007 (after our divorce), and now says he wants to quit claim the house to me.
so i call the finance company and they say i have to purchase my home even though i am the person on title.
so how do i re-buy my own home???
was married, my husband & i purchased a home in 2000, we refinanced in 2005, then separated in 2006. somehow he managed to refinance our home in 2006 without my name on the loan, although i signed the loan papers. now we are divorced but i am still on title to the house. he has not made a house payment since nov. 2006, filed for bankruptcy protection in 2007 (after our divorce), and now says he wants to quit claim the house to me.
so i call the finance company and they say i have to purchase my home even though i am the person on title.
so how do i re-buy my own home???
Hi lovlyrita,
Welcome to the forum.
Are you interested in that property? If you are, then you can pay your husband for his share of the property. If you are not interested then sell the house divide the proceeds accordingly.
Feel free to ask if you have any further questions.
Best of luck.
Larry
Welcome to the forum.
Are you interested in that property? If you are, then you can pay your husband for his share of the property. If you are not interested then sell the house divide the proceeds accordingly.
Feel free to ask if you have any further questions.
Best of luck.
Larry
Hi Lovlyrita,
What I can interpret is, both of you refinanced first and then again, your husband refinanced for the second time after you two got separated. Then why did you sign the loan papers for? Please refrain from signing papers until and unless you go through them thoroughly and understand what they are trying to say.
I understand your problem, your husband hasn't made a payment and you are still on the title. So, hopefully if he doesn't even turn up with the dues, either you pay the entire balance or else you lose the home!
Since he is interested to quitclaim the house to you, it seems he's just trying to get away without paying anything.
"How do I re-buy my own home???"
I don't think you need to re-buy the home. Why would you? Yes, the lender can ask for the payments as you were on the title but I don't understand why they've asked you to re-buy. Did you ask them why you would do it? Please tell them to clarify their steps under this situation.
What bankruptcy did your husband file? Was it chapter 7 or 13? I suppose it was 13, is it?
Regards,
Jessica
What I can interpret is, both of you refinanced first and then again, your husband refinanced for the second time after you two got separated. Then why did you sign the loan papers for? Please refrain from signing papers until and unless you go through them thoroughly and understand what they are trying to say.
I understand your problem, your husband hasn't made a payment and you are still on the title. So, hopefully if he doesn't even turn up with the dues, either you pay the entire balance or else you lose the home!
Since he is interested to quitclaim the house to you, it seems he's just trying to get away without paying anything.
"How do I re-buy my own home???"
I don't think you need to re-buy the home. Why would you? Yes, the lender can ask for the payments as you were on the title but I don't understand why they've asked you to re-buy. Did you ask them why you would do it? Please tell them to clarify their steps under this situation.
What bankruptcy did your husband file? Was it chapter 7 or 13? I suppose it was 13, is it?
Regards,
Jessica
Okay - long story, sticky situation...
was married, my husband & I purchased a home in 2000, we refinanced in 2005, then separated in 2006. Somehow he managed to refinance our home in 2006 without my name on the loan, although I signed the loan papers. Now we are divorced but I am still on title to the house. He has not made a house payment since Nov. 2006, filed for bankruptcy protection in 2007 (after our divorce), and now says he wants to quit claim the house to me.
So I call the finance company and they say I have to purchase my home even though I am the person on title.
So how do I re-buy my own home???
You have to draw up a purchase contract.........however I think you may have issues here becuase a notice of default may have been filed against title......and in that case you would need to evidence that you have been making payments......I don'ty think there is a clear cut answer here....
was married, my husband & I purchased a home in 2000, we refinanced in 2005, then separated in 2006. Somehow he managed to refinance our home in 2006 without my name on the loan, although I signed the loan papers. Now we are divorced but I am still on title to the house. He has not made a house payment since Nov. 2006, filed for bankruptcy protection in 2007 (after our divorce), and now says he wants to quit claim the house to me.
So I call the finance company and they say I have to purchase my home even though I am the person on title.
So how do I re-buy my own home???
You have to draw up a purchase contract.........however I think you may have issues here becuase a notice of default may have been filed against title......and in that case you would need to evidence that you have been making payments......I don'ty think there is a clear cut answer here....
"the finance company" is likely populated by people who have no clue about the legal ownership of this home. clearly, from your posts, rita; the property is still owned by you, jointly with your former spouse.
in that situation, "purchasing" your own home is not what you need to do. if you take 100% possession by way of a quit-claim deed from him, then it will be your exclusive right to do with the property what you desire; subject, of course, to all the rights the mortgagee has.
first and foremost, you need to come to agreement with the lender as to how payments of past-due amounts will be paid and how future payments will be made.
have you checked your own credit to ensure that you haven't been jeopardized by your former spouse's inability to make payments? i submit that it may be an excellent idea to do so - go to www.annualcreditreport.com to do that - it is the only site authorized by the federal trade commission.
i generally suggest that you not bother requesting and paying for your credit score. i will add one caveat to that, however. i recently read a column in usa today suggesting that if you desire to obtain your score(s), you ought to buy only one of them at first. this will eliminate the exorbitant fees that these credit agencies charge. i'm still hesitant to suggest getting the score, but of course, that's an individual decision anyway.
if you can work out the situation with the lender and if you are able to bring the account current and keep it that way, then that will be a wonderful thing.
bon chance.
in that situation, "purchasing" your own home is not what you need to do. if you take 100% possession by way of a quit-claim deed from him, then it will be your exclusive right to do with the property what you desire; subject, of course, to all the rights the mortgagee has.
first and foremost, you need to come to agreement with the lender as to how payments of past-due amounts will be paid and how future payments will be made.
have you checked your own credit to ensure that you haven't been jeopardized by your former spouse's inability to make payments? i submit that it may be an excellent idea to do so - go to www.annualcreditreport.com to do that - it is the only site authorized by the federal trade commission.
i generally suggest that you not bother requesting and paying for your credit score. i will add one caveat to that, however. i recently read a column in usa today suggesting that if you desire to obtain your score(s), you ought to buy only one of them at first. this will eliminate the exorbitant fees that these credit agencies charge. i'm still hesitant to suggest getting the score, but of course, that's an individual decision anyway.
if you can work out the situation with the lender and if you are able to bring the account current and keep it that way, then that will be a wonderful thing.
bon chance.
Since your husband is in bk, the house is part of the bankruptcy estate and controlled by the court. It is likely the finance company will not be able to collect from the husband.
You state you are not on the loan, but you signed the papers. This means you are probably on the loan.
I think the finance company is worried it will not collect any money on the loan and is trying to get you to pay it.
I would consult with a bk attorney and/or a local real estate attorney to give you proper advice before paying anything to the finance company or signing any more papers.
You state you are not on the loan, but you signed the papers. This means you are probably on the loan.
I think the finance company is worried it will not collect any money on the loan and is trying to get you to pay it.
I would consult with a bk attorney and/or a local real estate attorney to give you proper advice before paying anything to the finance company or signing any more papers.
