Breakups & Divorce Support Group
Just broke up with someone or in the midst of a difficult divorce? Breaking up is difficult no matter what the circumstances are. They say that time heals all wounds, but sometimes a listening ear or a hug can work wonders for the heart. Whether you need a place to vent, someone to hold you to No Contact, or need advice about what to do, we're here to help.
i have been seperated for 2 years almost divorce papers are being filed finally , however i had to stay at my exs house with the kids over this past weekend and i found out that she hasnt been paying the mortgage,
the mortgage is in her name, not mine
the deed to the house is in both of our names
if she looses the house before our divorce is final, am i liable for half of this default since the mortgage is in her name,
does anyone know
the mortgage is in her name, not mine
the deed to the house is in both of our names
if she looses the house before our divorce is final, am i liable for half of this default since the mortgage is in her name,
does anyone know
lostsoul72
Since its in her name then she is liable for it. If there is equity in the house you are entitaled to 1/2 of that if your name is on the deed. If the bank takes the house you more then likely wont get anything as they will come up with a bunch of BS charges to eat all the equity in the house up so they get paid mos tof the money.
deleted_user
She is liable for the defaulted loan, but having you on the title means she wouldn't be able to sell the house without you signing it over.
deleted_user
Sorry, but I"m not going to sugar coat this. You had better cure the delinquency now or get that house listed for sale ASAP. Although you're not on the loan, a foreclosure could affect you later should you apply for a loan down the road. Your wife's mortgage won't show on your credit report, but your W-2s and tax returns will likely reflect the property address, which will show as a foreclosure on public record. A future lendet has the discretion as to take this into consideration or not when rendering a decision, but personally, I wouldn't risk it. I would suggest you consult with an attorney, a tax advisor, and a seasoned real estate professional this week. If your attorney cannot figure this out, I would suggest that you find a new lawyer pronto. Good luck!
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