Posted on: 13th Jan, 2009 05:51 pm
I need some help!
My ex and I were divorced almost two years ago. I made the mistake of letting him keep the house and I signed a QuitClaim form to remove my name from the land/title.
He is now remarried and letting the house go. His new wife is trying to get a loan modification done and wants me to sign a release form allowing this third party to get with our original lender and work out a new deal; in the process, removing my name from the loan.
I'm nervous to sign the paper......I guess I don't understand why they can't just use the divorce decree as proof I don't live there and I'm not making payments. The paper also requires my social, which makes me nervous because I don't trust this girl.
Can anyone give me advice? I'm in a mess but at this point, I don't want to make any other mistakes.
Thanks in advance for your help!!
My ex and I were divorced almost two years ago. I made the mistake of letting him keep the house and I signed a QuitClaim form to remove my name from the land/title.
He is now remarried and letting the house go. His new wife is trying to get a loan modification done and wants me to sign a release form allowing this third party to get with our original lender and work out a new deal; in the process, removing my name from the loan.
I'm nervous to sign the paper......I guess I don't understand why they can't just use the divorce decree as proof I don't live there and I'm not making payments. The paper also requires my social, which makes me nervous because I don't trust this girl.
Can anyone give me advice? I'm in a mess but at this point, I don't want to make any other mistakes.
Thanks in advance for your help!!
Hi jazzy!
Welcome to forums!
When you quitclaimed the property to your ex-husband, didn't he refinanced it in his name? If he hasn't refinanced the property in his name, then you are still liable to pay the mortgage dues and your credit will also be affected if the property goes into foreclosure.
As your name is still on the mortgage docs, I guess, that's the reason why the new wife is asking for a release form. If you are not comfortable signing the docs, you can take the help of an attorney and take his suggestions. The attorney can go through the docs and let you know the pros and cons of the form.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
When you quitclaimed the property to your ex-husband, didn't he refinanced it in his name? If he hasn't refinanced the property in his name, then you are still liable to pay the mortgage dues and your credit will also be affected if the property goes into foreclosure.
As your name is still on the mortgage docs, I guess, that's the reason why the new wife is asking for a release form. If you are not comfortable signing the docs, you can take the help of an attorney and take his suggestions. The attorney can go through the docs and let you know the pros and cons of the form.
Feel free to ask if you have further queries.
Sussane
Thank you so much for your advice. I am waiting on my attorney now to get their input. I want to help of course but at the same time, I just don't know if I can trust them. Thanks again!
Hey jazzy,
I think your attorney will give you the right advice. As you are his/her client, the attorney will look after your benefit.
I think your attorney will give you the right advice. As you are his/her client, the attorney will look after your benefit.
Tell them you will need to hire an attorney to review the forms and will only sign it if she pays your attorney fees.
