Posted on: 07th Jul, 2010 06:31 pm
From the looks of previous posts I think I know where this is going; however, it doesn't hurt to ask my specific question.
I divorced almost 5 years ago, the decree indicates that I am 'not to be held financially responsible for' the home that I also gave to her in the decree.
I just found out that she is about to foreclose and file bankruptcy. Apparently after 5 years she never refinanced and my name is still associated with the loan.
There is a quitclaim in place, and apparently the mortgage company has that and the divorce decree. I've contacted my county recorders office and she is the sole 'owner' of the home, but I have a feeling that the mortgage company will come after me. when I call them, they refuse to talk to me about the status because I am 'not authorized to discuss the matter' with them.
I do not relish the idea of suing her (also, I don't think I can afford it), and I'm currently in a home and have been scraping by to make my own bills.
Do I have any recourse? I don't want to file bankruptcy because of all the negative things it could do to my current financial status.
I did find out that my credit has been hit almost 200 points (down to 630 from almost 815).
So, I'm at a loss, I cannot afford to sue, and I actually don't even think I even qualify for bankruptcy (without her mess, I'm OK, barely, but OK).
Any Ideas?
I divorced almost 5 years ago, the decree indicates that I am 'not to be held financially responsible for' the home that I also gave to her in the decree.
I just found out that she is about to foreclose and file bankruptcy. Apparently after 5 years she never refinanced and my name is still associated with the loan.
There is a quitclaim in place, and apparently the mortgage company has that and the divorce decree. I've contacted my county recorders office and she is the sole 'owner' of the home, but I have a feeling that the mortgage company will come after me. when I call them, they refuse to talk to me about the status because I am 'not authorized to discuss the matter' with them.
I do not relish the idea of suing her (also, I don't think I can afford it), and I'm currently in a home and have been scraping by to make my own bills.
Do I have any recourse? I don't want to file bankruptcy because of all the negative things it could do to my current financial status.
I did find out that my credit has been hit almost 200 points (down to 630 from almost 815).
So, I'm at a loss, I cannot afford to sue, and I actually don't even think I even qualify for bankruptcy (without her mess, I'm OK, barely, but OK).
Any Ideas?
Welcome jonoww,
As your name is mentioned on the mortgage docs, you'll be held liable for the loan if the property is foreclosed by the lender for the non-payment of the dues. However, as you have a divorce decree which states that you won't be held liable for the property financially, you should inform the lender about the same.
As your name is mentioned on the mortgage docs, you'll be held liable for the loan if the property is foreclosed by the lender for the non-payment of the dues. However, as you have a divorce decree which states that you won't be held liable for the property financially, you should inform the lender about the same.