Posted on: 03rd Nov, 2010 05:36 pm
my husband was awarded our home, both of us on deed and loan. his lawyer is trying to bully me into signing quitclaim deed, saying nothing in the divorce settlement agreement said he had to refinance and even if he wanted to refinance, i would need to sign first before he could. i now understand that this is a major loophole in divorce laws, and many people are very surprised to find out they no longer own a home but they still owe on a home. i want my signing to be coordinated with his refinance transaction.
i understand that the laws regarding this vary from state to state. so i want to know where would i be able to find the answer to my question about whether or not it is true that in n.m. in order for my ex husband to refinance i must first sign the quitclaim deed.
here is another big surprise.....my attorney does not know the answer to this question! i cant afford to go to a real estate attorney to get an answer.
i understand that the laws regarding this vary from state to state. so i want to know where would i be able to find the answer to my question about whether or not it is true that in n.m. in order for my ex husband to refinance i must first sign the quitclaim deed.
here is another big surprise.....my attorney does not know the answer to this question! i cant afford to go to a real estate attorney to get an answer.
hi intothemistic,
welcome to mortgage fit,
although laws vary from state to state, some basic fundamentals remain same all over the country.i.e. 'novation' novation literally means change in the contract laws/bye laws,with the consent of all the stakeholder/parties involved terms and condition of the contract can be altered and thus one can save time as well as money for the repetitive processes.
in this case you should directly contact the lender and ask him/her regarding novation and allied documents required.initially he may be reluctant but stand firm on your stance and convey him that it will be beneficial for all the concerned entities.
i strongly prefer that with these kind of deals one should always take professional hep from real estate attorney.rather attorney should accompany you for some of the most important meetings.you may find difficult to pay the attorney's fee but take service from the attorney who charges pay per hour and thus when you fill necessary then only take their service.
feel free to ask any further query if you have.........
dipa
welcome to mortgage fit,
although laws vary from state to state, some basic fundamentals remain same all over the country.i.e. 'novation' novation literally means change in the contract laws/bye laws,with the consent of all the stakeholder/parties involved terms and condition of the contract can be altered and thus one can save time as well as money for the repetitive processes.
in this case you should directly contact the lender and ask him/her regarding novation and allied documents required.initially he may be reluctant but stand firm on your stance and convey him that it will be beneficial for all the concerned entities.
i strongly prefer that with these kind of deals one should always take professional hep from real estate attorney.rather attorney should accompany you for some of the most important meetings.you may find difficult to pay the attorney's fee but take service from the attorney who charges pay per hour and thus when you fill necessary then only take their service.
feel free to ask any further query if you have.........
dipa