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countryshopper2000 · Joined: 20 Jul 2011 Posts: 1 1.53 Dollars($)

My Ex Wife and I are signed on a home she was awarded in the Divorce Decree. She was ordered to refinance the home or sell it 1 year after the divorce. She has done neither....cant refinance because of her spending habbits and has been late on the Mortgage 3 times this last year...which has also effected me and my current spouse's ability to purchase our own home. The morgage has an ARM and is set to expire next June. Since then she has been remarried and is now renting the home to a family. She is making a sub interest payment only and by next June the property will be upside down in value. She has informed me that at the time this happens, she is prepared to go bankrupt. Every Attorney I have spoken with said that I either need to force her to sell the home or I will go down with that sinking ship. My credit is good...but will be desimated with her defaulting in the home. She has offered to quit claim the property to me because she refuses to put a for sale sign up on her home and scare away her temporary cash cow. My Attorneys told me even if I sue her, she will only be asked to advertise the home..if that happens she will do a minimal amount of advertising and keep her renters happy. I have been advised to have her quit claim the home to me...and at least I have control of the Titanic before it goes down. Any ideas?

jameshogg · Posted: Wed Jul 20, 2011 11:58 pm Post subject:

Hi countryshopper,

Your attorney has advised you correctly. You can buy her out by offering her a certain sum of money and ask her to transfer the property to you by signing a quitclaim deed. This will make you the owner of the property and then you can properly advertise the property for sale.

Thanks

Posted: Fri Jul 22, 2011 2:16 am Post subject:

How is your credit "good" if you show three mortgage lates on the for which you are still obligated? Your situation may be worse right now than you assume.

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