Posted on: 30th Jan, 2006 10:21 am
Good Afternoon, I am in dire need of advice. My ex fiance and I have a joint mortgage loan on a property that he now resides in alone. I no longer live there and do not know what I need o do to get my name off of the loan. He is paying the loan behind every month which is severely damaging my credit. He refuses to sell the property, and he cannot refinance in his own name because he is damaging his own credit as well. What do I do? Please help me. Thank you
Thanks our accounts were joint accounts..just can't understand how one person can take everything that two have worked for all these years...but guess I should have gotten there first.I didn't think the property could be sold without my signature.Thank you very much..
Hi lin,
Even though your husband holds the account jointly, he cannot take the entire money from the account. You too are a holder of the account and have as much right to it as your husband. You have also contributed to the account and thus, you should be entitled to receive a certain part of the money. You also have a right to the property, given your name is listed on the property deed. So, it will not be possible for him to sell the house without your signature.
Even though your husband holds the account jointly, he cannot take the entire money from the account. You too are a holder of the account and have as much right to it as your husband. You have also contributed to the account and thus, you should be entitled to receive a certain part of the money. You also have a right to the property, given your name is listed on the property deed. So, it will not be possible for him to sell the house without your signature.
Thank u so much.I didn't know that.I'll check into it today.I really appreciate your help.
iam going thru a divorce were my husband commotted adultery he left the marital home told me he wasnt paying to the mortgage and told me if i give him the divorce he will sign the house over to me . can he sell the house with out my consent
lin as far as your joint bank account is concerned, jenkin isn't correct. either owner of a joint account has full access to the funds contained therein. your husband was fully authorized to withdraw the balance, as you would have been as well. the comments about selling the home are correct, however - both parties to title would have to be involved in order to sell the home.
now...lynn - similar names, similar issues - your husband cannot sell the home out from under you. the same principle applies - each of you would need to sign any documentation to sell that home.
now...lynn - similar names, similar issues - your husband cannot sell the home out from under you. the same principle applies - each of you would need to sign any documentation to sell that home.
thanks for that reply id also like to no can he force me to sell the house and his he liable to pay half the mortgage
the only way someone can be forced to sell a home by a spouse or former spouse is if that individual takes legal steps to make it happen. that would be quite a long process, i'd think. if he is obligated on the mortgage note, then he's obligated to pay. getting him to do so could be a chore, i assume, but you really can't force anyone to something they outright refuse to do, either.
My husband and I recently divorced, the house was on the market at the time and we had both agreed to move out so that it might sell more quickly. Well, he lost his job and moved back in and is now not wanting to sell. We are unable to pay the mortgage. He is wanting to live there for nothing until it is forced in to foreclosure. This is ruining my credit! There is nothing in the divorce agreement giving either of us more ownership over the house than the other. What do I need to do to get my name off the deed and mortgage since he is not cooperating in selling?
i suppose you could take him to court to try to get a court order to pull the plug, but i'd have to think that most courts wouldn't be much help to you.
Hi,
You will not be able to refinance the home if it is more than 50% upside down. No lender would be ready to offer you a loan to refinance up to the original value of property. What could be possible is a short refinance and you will be able to refinance only up to the current value of the house. But in that case, your present lender needs to be ready to accept a short payoff.
You will not be able to refinance the home if it is more than 50% upside down. No lender would be ready to offer you a loan to refinance up to the original value of property. What could be possible is a short refinance and you will be able to refinance only up to the current value of the house. But in that case, your present lender needs to be ready to accept a short payoff.
Jack and I own a home in Illinois and have for six years with both our names on the mortgage and the loan. Jack got married in Wisconsin (a marital property state). If we foreclose on the house, does it affect the wife's credit?
Thanks!
Thanks!
Hi Zelda,
I don't think the foreclosure will affect Jack's wife's credit. When Jack bought the property he was not married. Thus, the home should be considered as his separate property and not as a community property. Moreover, his wife is not on the mortgage note. Hence she is not responsible for the mortgage in any way and the foreclosure cannot show up on her credit report.
I don't think the foreclosure will affect Jack's wife's credit. When Jack bought the property he was not married. Thus, the home should be considered as his separate property and not as a community property. Moreover, his wife is not on the mortgage note. Hence she is not responsible for the mortgage in any way and the foreclosure cannot show up on her credit report.
Can I have the co-owner of my property removed since he does not want to take care of the home. He is my ex and does not want me to really have the property
What can I do
What can I do
Hi Monet!
Welcome to forums!
If the co-owner's name is mentioned on the property, then you won't be able to remove him or her from the property. You will have to ask the co-owner to quit claim the property to you.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the co-owner's name is mentioned on the property, then you won't be able to remove him or her from the property. You will have to ask the co-owner to quit claim the property to you.
Feel free to ask if you've further queries.
Sussane