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Assuming Mortgage Loan

Discussion in 'Division of Marital Property' started by Jonie, Sep 6, 2019.

  1. Jonie

    Jonie Law Topic Starter New Member

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    Jurisdiction:
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    Hopefully I can get some solid answers regarding my issue.

    Me and my ex husband divorced in August 2012. I left him with the house and I honestly never pressed the issue of taking my name off of the mortgage because my kids still lived there part time and he was/is making payments on time. He was not in a good spot credit wise to refinance without without a second income even though he was able to make payments just fine. That being said, the divorce was quick and we agreed on pretty much everything with no fighting. My mistake was not addressing the house or loan other than to say he got the house. I said that to say, there were no directives in our divorce decree regarding the mortgage loan.

    Fast forward to beginning of 2018. He remarried. I thought now that he has two incomes, he should be able to refinance. He flat out refused unless I paid for it (he doesn't have the money according to him) and the new wife doesn't even want to be on the note. I didn't have the funds at the time so that was not an option for me. Beginning of 2019 he bought 2 brand new vehicles within months of each other, so I figured I would ask again. Same outcome.

    Last month I contacted our mortgage loan company and inquired about my options that would leave him not having to refinance (since we are getting no where with that option). I can fill out and pay a fee for him to do a loan assumption. I just need him to sign off on this. I am willing to come up with the $800 it will take for this to happen but he is not responding to any texts/requests.

    Out of all that, my question is....Because it was not initially addressed in our divorce decree am I able to go back the courts and make something happen? I do not want anything from him except for him to sign that he will take on the loan and keep doing what he has been doing all these years. I want to buy my own home within the next two years. This is a hindrance based solely on the debt to income ratio associated with having this mortgage on the loan.

    Thanks in advance for any advice you can give me. I just feel like after all these years he still has control and that is frustrating in so many ways.
     
  2. army judge

    army judge Super Moderator

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    You and he will remain on the note until he agrees to do what the lender requires to get you off the hook.

    The court lacks the ability to do anything more than you can do, which is to coax him into acceding to your demand to voluntarily remove you from the note.

    The only court that can remove you from the note is a bankruptcy court, if you file a chapter seven bankruptcy. I am not recommending you do that, just informing you that it could be done if you otherwise qualify.

    What you desire would have been easier, had you done it during the divorce.

    He had more motivation to do it then, because the court may have been able to partition the property when the marriage was being dissolved.

    You might discuss what you want to do with your divorce lawyer, presuming you had one.
     
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  3. justblue

    justblue Well-Known Member

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    Did you sign the quit claim?
     
  4. Jonie

    Jonie Law Topic Starter New Member

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    Unfortunately, I did. I thought that was a step towards relieving me of any liability. I didn't understand all of this at that time and we both couldn't afford lawyers. I had paid for the divorce myself and by that point I was ready to give up everything to be able to walk away peacefully. Hindsight
     
  5. Zigner

    Zigner Well-Known Member

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    Offer him some cash.
     
  6. Jonie

    Jonie Law Topic Starter New Member

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    This is what I was afraid of. At the time of the divorce, neither of us had a lawyer. About a year later when I went to file for a change custody arrangements, I did retain a lawyer. As did he.
    I would definitely do things differently now.
     
  7. army judge

    army judge Super Moderator

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    Two of life's many truisms!
    Never TRUST anyone but yourself.
    Never TRUST a person whom you are divorcing.
     
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  8. Zigner

    Zigner Well-Known Member

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    Offer him $1,000 for his assistance...or maybe start at $750 and negotiate. People like cash, it feels nice in the pocket.
     
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  9. adjusterjack

    adjusterjack Super Moderator

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    Number 3:

    Never TRUST anybody who is selling you something.

    :D
     
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  10. army judge

    army judge Super Moderator

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    Indeed.

    The list is endless.
     
  11. Jonie

    Jonie Law Topic Starter New Member

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    I do understand that part of it. But having to pay for the processing and then just giving him money for a house he lives in with his new family (my kids are now grown and living on their own) seems like a double punch. Right now my financial situation says I can do one or the other but not both. I have a single income. Thank you though, I understand what you are saying. Possibly start a savings fund and then come back with an offer when I can actually back it up.
     
  12. Jonie

    Jonie Law Topic Starter New Member

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    I wish there was a "love" button. BUT chalking it up to lessons learned.
     
  13. justblue

    justblue Well-Known Member

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    Make sure the ^ is done by contract. He gets the refi and you give him XX.xx amount of money...

    His new wife is unlikely to co-sign on the mortgage unless she is put on the deed. So...hopefully your ex has better credit than he had before.
     
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  14. PayrollHRGuy

    PayrollHRGuy Well-Known Member

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    And how will your financial situation be if he just decides to stop paying the mortgage? You honestly would be better off getting a small loan to pay for the loan costs and an amount for him.
     
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  15. zddoodah

    zddoodah Well-Known Member

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    So...is title now in his name only? Or is it still in both of your names?

    You can ask for a modification, but only a local family law attorney is going to be able to give you reliable advice about the likelihood of the court giving you what you want.

    Beyond that, I agree with the others who have suggested you may need to buy your way out of this.
     

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