Posted on: 14th Oct, 2009 12:38 am
the house was in my exhusbands name. when i found out about the affair, i quit-claimed the deed in my name. the house is now in my name only. but the mortgage is in his name only. it has been two years since our divorce. in our divorce agreement. that he created with out lawyers. yes i am stupid. i signed it. i agreed to refinace after two years. i can't afford, and don't want to incure extra cost to refinance. i have never missed a payment. can i just pay the mortgage. he is saying he can sell the house if i don't refinae and get the mortgage in my name. i didn't have legal counsel and really didn't know what i was signing.
Hi Beatrice,
Since you signed on the agreement and promised to refinance the loan in your name, you are legally liable to refinance. The lender will not foreclose on the property as long as you can keep paying the mortgage on time. However, if your ex-husband takes the matter to court, the judge may order a sale of the house if you do not refinance. But I don't think he will drag this matter to court because it involves a lot of expenses and can often take time.
Since you signed on the agreement and promised to refinance the loan in your name, you are legally liable to refinance. The lender will not foreclose on the property as long as you can keep paying the mortgage on time. However, if your ex-husband takes the matter to court, the judge may order a sale of the house if you do not refinance. But I don't think he will drag this matter to court because it involves a lot of expenses and can often take time.
Beatrice
Reality always bites,no matter who you are you will get burnt,if you put hand in fire.Similarely even if you say I wasn't aware about legal terms while signing,and you are not liable now.......... But the fact is you are liable to follow the agreement with your ex. if you have signed it.
So, now coming to the solution part.Just pay the money of mortagage on time to time without missing.And explain your ex about your current situation and ask him to modify some of the terms of the deed.If he does n't agree and tell you that,he will approach court, then you can hardly do anything.
But make sure never miss your mortgage payment.
Keep in touch.......
:arrow: :arrow: :arrow:
Reality always bites,no matter who you are you will get burnt,if you put hand in fire.Similarely even if you say I wasn't aware about legal terms while signing,and you are not liable now.......... But the fact is you are liable to follow the agreement with your ex. if you have signed it.
So, now coming to the solution part.Just pay the money of mortagage on time to time without missing.And explain your ex about your current situation and ask him to modify some of the terms of the deed.If he does n't agree and tell you that,he will approach court, then you can hardly do anything.
But make sure never miss your mortgage payment.
Keep in touch.......
:arrow: :arrow: :arrow: