Posted on: 04th Oct, 2012 06:53 am
after the divorce i signet quit clam to the house purchased together with my ex. my name is still on the mortgage. he now want to refinance it, but it would requre my agreement and signature to do so. with his income he is unable to refinance it to himself.
i know i have an obligation to pay the mortgage if he stops making payment, but do i have any rights? can i force an ex to sell the house? there was not anything in the divorce paper about sell of the house.
thanks.
i know i have an obligation to pay the mortgage if he stops making payment, but do i have any rights? can i force an ex to sell the house? there was not anything in the divorce paper about sell of the house.
thanks.
Even with a court order to sell the home, most people cannot sell their home due to the market and that they may be underwater. I have never seen a court ordered sale, take place. But I am sure if you keep fighting it, you can get the court to demand the sale of the home. Good luck
Hi noor,
If you have already signed the quitclaim deed and transferred the property to your ex, then you won't be able to take any steps to sell off the property. It will depend upon your ex whether or not he wants to sell off the property. Apart from that, he can go for novation which will also help him in transferring the mortgage in his name.
If you have already signed the quitclaim deed and transferred the property to your ex, then you won't be able to take any steps to sell off the property. It will depend upon your ex whether or not he wants to sell off the property. Apart from that, he can go for novation which will also help him in transferring the mortgage in his name.
I see. I have no rights to the property, but I have an obligation to the loan, correct? It does not seem logical.
If he stop making payments, what option do I have?
Adonis, novation would be ideal, but I have read that banks do not favor it nowdays.
I was going to propose the idea of helping ex to refinance in exchange of splittiing the savings from refinancing with me.
If he stop making payments, what option do I have?
Adonis, novation would be ideal, but I have read that banks do not favor it nowdays.
I was going to propose the idea of helping ex to refinance in exchange of splittiing the savings from refinancing with me.
Hi Guest,
As you have quitclaimed the property, you don't have any rights to it. If he stops paying the loan, then it will have a negative impact on your credit. In that case, it will be better to pay off the loan. I will suggest you to contact your husband and try to sort out the whole matter.
Thanks
As you have quitclaimed the property, you don't have any rights to it. If he stops paying the loan, then it will have a negative impact on your credit. In that case, it will be better to pay off the loan. I will suggest you to contact your husband and try to sort out the whole matter.
Thanks