Posted on: 19th Jul, 2011 02:10 am
I am divorced. Our divorce decree said that the house we lived in was to be occupied and paid by my ex. I did not sign a quitclaim for this property because he was to sell it by a certain date and pay me half of the proceeds. Since then he has let the mortgage go into default and moved out. I now have the money to pay the arrears and bring the mortgage current. If he signs a quitclaim to me for the property, can I then rent or sell it without him having any claim or interest? Both of our names are on the mortgage loan. Will my bringing the home up to current payments also help his credit? Both of our credit scores have plummeted with this default.
i suggest you go back and speak with your attorney and get some additional legal guidance on how to proceed. your decree spelled out what was to happen, and i'd surmise that you'll need to go back to court in order to obtain a new order that will allow you to do what you propose.
if you become the sole owner by way of a quit claim deed from him, then it'll be your home to do with as you please.
bringing the loan current will, yes, enhance your credit standing as well as his. he remains a borrower until such time as you sell the home or refinance the existing mortgage.
if you become the sole owner by way of a quit claim deed from him, then it'll be your home to do with as you please.
bringing the loan current will, yes, enhance your credit standing as well as his. he remains a borrower until such time as you sell the home or refinance the existing mortgage.