Posted on: 23rd Aug, 2011 07:39 am
Hello, My ex husband is now threatening to take me to court in WA state to refinace the house. I tried to refinace it and have expressed this to him that the bank will not allow me to with my bad credit. When it goes to court what will happen? I tried and have been denied, We have been divorced for 8 years and now his current wife wants his name off the morgage, I have tried everything i could no bank will refinace the home.
with a court order, you are still stuck. if the bank will not refinance the loan for what ever reason, there is nothing the court, your x or the new spouse can do. if the court ordered you to sell the house, then thats the answer, but not what you want...good luck!
Hi JenniferSchwartz,
It is true that with a bad credit, you won't be able to refinance the existing mortgage on your property and remove your ex-husband's name from the mortgage loan. The court might order the sale of the property if you're unable to refinance the mortgage in your name.
Thanks
It is true that with a bad credit, you won't be able to refinance the existing mortgage on your property and remove your ex-husband's name from the mortgage loan. The court might order the sale of the property if you're unable to refinance the mortgage in your name.
Thanks
Speak to a mortgage broker or lender and inquire about an FHA refinance. These government-backed home loans are intended to help distressed homeowners refinance their mortgage and remain in their property. However, if your ex get it into court, you will have to obey whatever its decision regarding on selling the property.
>>These government-backed home loans are intended to help distressed homeowners refinance their mortgage and remain in their property.
No they're not - and they have rigid FICO requirements too.
No they're not - and they have rigid FICO requirements too.
>>When it goes to court what will happen?
You'll probably have to sell the house. Your ex-husband has been inhibited for 8 years by being on that mortgage, and wants to get on with his life, but hasn't been able because his name is still on the Note. 8 years is a long time and the court is probably going to agree with releasing him from that position.
You'll probably have to sell the house. Your ex-husband has been inhibited for 8 years by being on that mortgage, and wants to get on with his life, but hasn't been able because his name is still on the Note. 8 years is a long time and the court is probably going to agree with releasing him from that position.