Home loan distribution

[chump]

Knowing we were going to get divorce and a declining housing market , my spouse and I took refinanced our family home (held as Joint Tennants), in a Community Property State. The funds were wired my spouses private checking account and later put in a private MMA .I am a Borrower on the loan. The reason for the loan was to bail on the house if we could not sell it,we had agreed to divide the funds 50-50. the sum of the loan was $170,000 my spouse did give me some of the funds but only about half of what I should have received. I never was able to withdraw any funds cause I could not access the private accounts. Can the bank be held responsible for accepting the wire into a private account when it was I made out to two parties and or can I get back whats owed to me from the divorce court?

 

[jharris352]

First of all I would advise you to NEVER say that you took out a loan so you could "bail on the house if it didn't sell." That is fraud against the lender. It's also a less than admirable way of doing business with anyone: It's dishonest.

So what happens when two people who are being dishonest with the bank deal with each other? They are dishonest with each other.

Your ex-apparently had you wire the money to her acount telling you that you would get your half of the money being stolen from the lender and then your bank robbing accomplice stole half for herself. Isn't that what you would expect?

In any case you can force some recovery in divorce court. You can do nothing to the bank whatsoever.

Excuse me for being a bit crass but I have little sympathy for people who outright admit that they intend to "bail" on a house if things don't go right. You should really be ashamed of that attitude. Our country is in the financial shape it is in because of that sort of greed.

I hope you can sell your house.