Posted on: 29th Oct, 2009 08:05 am
i currently still own a house with my ex husband and have been having a problem getting out of the situation. it has been almost 3 years, and he is unable to refinance for multiple reasons.. is there any other options? he still lives in the house and i have moved out . i have no idea what to do and it is driving me insane!! when we went to court for the last time in dec of 2008. he was advised by the judge to take my name of everthing. he ask the judge how do i do that...the judge told him he has to find a way. this house was awared to him. there is a judgment for him.... he bought me out. why do i have to keep my name on this loan and house... please please help me...one other thing he has not made a payment for 17 months and has not paid the property taxes in over 2 years. my hads are tied. this is crazy soyou mean to tell me that if you do any legel binding thing with anyone you are tied for life..... any advice is appreciated. thanks.
I'm sorry to be the one to tell you, the only way to get you off this loan is for him to refinance, assume or sell the house. Unfortunately, this has already affected you. If he has not made payments, court order or not, this is reporting on your credit since you are a cosigner. When you signed the mortgage you took legal responsibility, the fact he cannot qualify on his own to refinance is not their issue. It puts you in a really bad spot. I suggest you chat with your attorney and potentially take the next step and force him to sell or take the house over and try to get out of the hole that was dug. Honestly, the brief info you gave on his situation makes it unlikely that anyone will be willing to finance him. If the property gets foreclosed you will be on the hook.
If he bought you out of the property, JS, there has to be something that can be done. Something akin to a quiet title action or something. Worst case, I would THINK, is that there was a "sale" of the property - or at least a portion of it - when he bought you out. I wonder if that would somehow clear your credit history. Of course, it may also trigger any "due on sale" clause that may exist in the mortgage.
Definitely a good idea to speak with an atty on this one as I'm sure that it is not an uncommon occurrence in divorce proceedings....
Definitely a good idea to speak with an atty on this one as I'm sure that it is not an uncommon occurrence in divorce proceedings....