Posted on: 19th Apr, 2007 07:25 pm
My husband has been in prison and was recently convicted and has life. I have been paying the mortgage by myself for the past 4 yrs. Because of some credit issues of his, creditors are threatening to put a lein on the property which he has not resided in 3 yrs. How can I get from out of his mess. Such as removing his name from mortgage.
And is it possible that when i sell, will monies go to whom ever has the judgement against him? leaving me with nothing?
And is it possible that when i sell, will monies go to whom ever has the judgement against him? leaving me with nothing?
Hi Stricklyb,
It is really sad to hear that your husband is suffering. May god help both of you at this point of life.
If you wish to remove his name from the mortgage, you need to talk to the lender. However, if you are thinking of selling the property, it is no use removing his name from the loan. I am not aware as to who is on the title. So, if your husband is on the title, you may require his signature at the time of selling the home.
What you need informing the lender is that you would like to sell and pay him off. But then, you need to pay the other creditors as well. And, truly you need to pay the person who has obtained a judgment against your husband rather than keep something for yourself. Otherwise, you will be pending payments which may affect you later on.
Take care
It is really sad to hear that your husband is suffering. May god help both of you at this point of life.
If you wish to remove his name from the mortgage, you need to talk to the lender. However, if you are thinking of selling the property, it is no use removing his name from the loan. I am not aware as to who is on the title. So, if your husband is on the title, you may require his signature at the time of selling the home.
What you need informing the lender is that you would like to sell and pay him off. But then, you need to pay the other creditors as well. And, truly you need to pay the person who has obtained a judgment against your husband rather than keep something for yourself. Otherwise, you will be pending payments which may affect you later on.
Take care
"How can I get from out of his mess. Such as removing his name from mortgage."
You can have the mortgage refinanced in your name, after it is refinanced you will be solely responsible for the mortgage.
You can have the mortgage refinanced in your name, after it is refinanced you will be solely responsible for the mortgage.
If your husband also owns the property with you then only a judgment lien can be placed on property. And when it is sold the lien is to be paid off.