divorce and mortgage

henryorhank · Joined: 14 Apr 2008 Posts: 4 3.35 Dollars($)

Hello all. My ex and I have been divorced for 2 years. Written into the divorce decree, I signed over ownership of our house in Texas to her (and she bought me out of my half- fair market value at that time) and I have since moved away. No quit claim deed was used - ownership was transferred as written into the verbiage of the decree. We did not use a divorce attorney, either. Now I am trying to buy a home at my new location and just learned that my name is still on the Texas house mortgage, along with hers, and have been told by my lender that is a problem. I understand that the only way to get my name off the Texas house mortgage is for her to refinance (is that correct?), but have asked her to do so and she said 'no way." So, are there ways to get my name off the mortgage without her refinancing? Also, if she stops making the payments, I understand the lender can come after me?!? And if that happens, she still gets to keep the house and I get nothing? Do I have any ownership at all? Could I force a sale of the house?

Thanks!

sivartmurbal · Joined: 10 Apr 2008 Posts: 4 3.36 Dollars($)

This type of thing is very bad. However you have some options. As far as getting the lender to remove you from any liability I do not think you have a chance. I think that you can however try to force either a refinance or a sale of the home. You need to take any written agreement that you have to a good attorney and they will be able to get you on the right path.

Sorry

Travis

henryorhank · Joined: 14 Apr 2008 Posts: 4 3.35 Dollars($)

Ok, so what if she stops making payments and I pick up the tab? Do I get any part of the house back or would I essentially be paying for her house?

larry · Joined: 27 Jun 2007 Posts: 2598 349.41 Dollars($)

Hi henryorhank,

You have signed the ownership to your ex and she has bought you out. So you don't have any rights on that property. You can help your ex to make payments to save you credit but that will help you to get ownership.

Best of luck,
Larry

jheard · Posted: Tue Apr 15, 2008 8:00 am Post subject:

You have a judgment and she has paid you. However, you are still on the mortgage and title.

You can remove yourself from title with a quitclaim deed. However, you cannot remove yourself from the mortgage without paying it off, or having your ex refinance.

To force her to refinance, you may be able to ask the court to enforce the divorce judgment. Consult with a local family law attorney.

0.10 Dollars($)

What you all have said so far more or less confirms what I've been able to deduce for myself through research on these forums and other sources on the internet.

I also called an attorney yesterday - she was very brief but basically said nothing short of her refinancing would do it. I'm going to call someone else to get a second opinion and ask about "novation." However, based on what I've read here, it seems like you, JHeard, don't think that's really an option, and it seems that course of action would be unlikely, based on what I've gathered so far. I called the lender and asked about that and they didn't seem to know what I was talking about. Maybe someone in a more senior position would have more info there.

I'd also like to confirm what you said, Larry, that if at some point my ex can't pay some or all of the payments, that if I did that "would help [me] get ownership." Is that correct? If that is the case, then I don't think I'd mind as much. It would be a bitter pill to swallow if she just decided to stop making payments, knowing that they'd come after me for the $$, and she'd get to keep 100% of the house while all I get is a smaller savings account.

Thank you all for your speedy and informative replies. Please do keep them coming!

henryorhank · Joined: 14 Apr 2008 Posts: 4 3.35 Dollars($)

that's me posting above - just didn't realize I wasn't logged in Wink

Samantha · Posted: Wed Apr 16, 2008 4:37 am Post subject: RE: getting out of mortgage

Hi henryorhank,

Welcome back.

Yes, you should get a second opinion about novation. It's true not many lenders agree to do it but again you never know! what's important is your ex-spouse's credit worthiness. Also, the lender will check out for her income and debt ratios. That's just to verify that she fits into the loan being offered to you.

May god bless you.

Samantha

Niicss · Joined: 03 Oct 2005 Posts: 662 94.17 Dollars($)

Welcome henryorhank,

I don't think that if you help you ex to make mortgage payments then it will help you to gain ownership but it may only help you to save your credit.

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