Posted on: 15th Mar, 2010 10:18 pm
Does the judge have to assign the home over to one spouse or another as personal property? If so, can he force my ex wife who left the home over a year ago, and states in declarations that she does not want the house, to sign an interspousal transfer agreement? She doesn't want to, so I think we will have to go to trial. We can't short sale because the bank says we make enough to make the payments. She just wants her name removed, but the bank will not do this. I do not want to make payments on the home for 5 years (which is upside down $150k right now) only for her to come back later claiming any equity, or telling me if I can or cannot refi. Please help.
Thanks.
Thanks.
hi guest,
do you want to keep the house? if you do, then you will have to make sure that the mortgage payments are current. if you default on the loan, the lender will foreclose the house, no matter who owns it. to take your ex's name off the loan, you will have to refinance. but it will not be worth your while to refinance a house which is upside down. if her name is on the title to the property, you can move to court to have it removed. since your ex no longer stays here and makes no payments towards the mortgage obligation, you can check with a lawyer if there's any legal recourse to have your ex's name removed from the title. if it is possible then the judge can pass a judgment to remove you ex from the title and assign it solely to your name.
do you want to keep the house? if you do, then you will have to make sure that the mortgage payments are current. if you default on the loan, the lender will foreclose the house, no matter who owns it. to take your ex's name off the loan, you will have to refinance. but it will not be worth your while to refinance a house which is upside down. if her name is on the title to the property, you can move to court to have it removed. since your ex no longer stays here and makes no payments towards the mortgage obligation, you can check with a lawyer if there's any legal recourse to have your ex's name removed from the title. if it is possible then the judge can pass a judgment to remove you ex from the title and assign it solely to your name.