Posted on: 07th Dec, 2008 08:17 pm
what rights does ex have on house since he signed quit claim did but holds mortgages...i have been divorced since april of 07 and property was settled since sept 07. my ex signed a quit claim deed to property. we had two mortgages both of our names were on the 1st and his only on the 2nd. in our divorce agreement it stated that i would have until july of 08 to refinance both loans in my name only. he signed quit claim deed in march of 08 and my name is the only name on mortgage. i was unable to get a mortgage because i lot my job. i finally got job 2 wks ago (i had been unemployed for 8 months) he is taking me to court insisting that the house must be sold since i cannot refinance. would he have any legal right or input when it comes to choosing a realtor, listing price, or the price that i will have to take if an offer comes in? i am hoping to be able to get a loan now that i am employed again and do not want to sell. i have been faithfully paying both loans and they have never been late. please help
hi lnduggan,
as your ex's name is on the mortgage, it becomes his obligation to pay the loan. moreover, the lenders will not be ready to give him another loan if he wants to purchase a property. as per the divorce agreement he has the right to take you to the court and ask you to sell off the property.
as you have been paying both the loans and have never been late, you can speak to the lender and check out if he agrees for a novation. moreover as you have got the job, may be the lender will consider this and refinance the property.
thanks
as your ex's name is on the mortgage, it becomes his obligation to pay the loan. moreover, the lenders will not be ready to give him another loan if he wants to purchase a property. as per the divorce agreement he has the right to take you to the court and ask you to sell off the property.
as you have been paying both the loans and have never been late, you can speak to the lender and check out if he agrees for a novation. moreover as you have got the job, may be the lender will consider this and refinance the property.
thanks