The first thing you need to do is call a Lender or go to your bank and find out what you can qualify for as far as a mortgage is concerned. While the lender runs your credit and checks to see what you may qualify for, call a Local Realtor to see what the home is worth. The Realtor can run some comps and show you what similar homes are selling for in your neighborhood and surrounding areas.
Once you have all of this information, you can make some smart decisions.
Don't hesitate, call or go to a lender and give them the information that they need to give you some answers.
1. Please stop yelling.
2. He refinanced your 2nd mortgage? If he is the only one on the note you wouldn't be responsible.
3. Yes, I would think you can get a lien on the house...if he ever sells & there's equity in the home you would be paid.... more
The home equity loan is signed by you and your ex. The options are: To pay off the existing loan or to have your ex refinance the mortgage but the amount the of new mortgage should be enough to settle the home equity loan under the ex's name only. The house should be appraised at the amount to cover the home equity loan.
Please consult a legal and mortgage expert.
Best in terms of what....rather than focusing on best, contact and interview in person a few local agents from different realty companies, then choose the one you like best; or ask people you may know for referrals....... more