 van
Joined: 29 Sep 2009
Posts: 1
1.30 Dollars($)
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 Posted: Tue Sep 29, 2009 2:40 am Post subject: what right does an ex-husband have? |
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| my wife and i divorced 8 years ago. Our family home was in both of our names. at the divorce, the home was awarded to my wife and she was refinace the home and remove me from the mortage. She never did this. Now the home is in forclusure. I have another home and business. will the bank come after me and put a lien on my current home? the home from the divorce was puchased for 150,000.00 and has a balance of 100,000.00. |
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Niicss
Joined: 03 Oct 2005
Posts: 3237
Location: New Jersey
510.78 Dollars($)
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| Posted: Tue Sep 29, 2009 3:29 am Post subject: |
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| If your name is still on the mortgage, then the lender can sue you for the mortgage dues. If the property goes into foreclosure, then you may be held responsible for the deficient amount as well. However, as the divorce decree states that your wife will have to refinance the loan in her name, I guess you may not be held responsible for the loan. You can speak to the lender and check out if they would consider you responsible for the loan. You may even contact an attorney and take his opinion in this regard. |
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