I'm recently divorced but still have my name on the home and loan with my husband. What is the best way to get this resloved so I can purchase a?

Asked by Mona, Rock Hill, SC Sat Jun 16, 2012


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Daniel Fisher, Agent, Charlotte, NC
Sat Jun 16, 2012
Good afternoon, Mona:
This should have been resolved in your divorce decree. If it was not, you ought to go back to your divorce attorney for advice.

If you are on the loan, both you and your ex are responsible for making payments. If any payment is missed, both of your credit scores could be impacted. The longer you wait to resolve this issue, the more risk you have that something related to this house will affect your ability to purchase another home. You should resolve it sooner than later.

What you do depends on whether there is any equity in the house. If you owe more than the house is worth, you could do a short sale. If there is equity in the house and he wants to keep the house and you and your ex can agree on an amount (e.g. hire an appraiser and reduce the appraised value by all debt and cost of improvements made while you owned it), your attorney would probably tell you that with your permission, he could take you off title and take you off the mortgage if the bank approves, or refinance and and pay you your share of the equity. If he has no money to pay you your share or if he cannot qualify to refinance on his own or if your ex is uncooperative, there are ways for you to force a sale (e.g. a partition sale).

Again, it will be better for you to deal with this sooner than later. Talk to your divorce attorney or get a good real estate attorney in the state where your property is located. If you appreciate an answer, please give "thumbs up". For the most helpful answer, please say thanks with a "best answer" click.
2 votes
We have a bankruptcy & the mortgage was in the pymt plan and he has made partial payments and that wa ms never possable for us when I tried before and after the bankruptcy and I haven't agreed to any changes
Flag Wed Jun 21, 2017
Daniel Fisher, Agent, Charlotte, NC
Fri Mar 15, 2013
Good evening, Mona:
You should go back to the attorney who handled your divorce. The ownership of the home should have been settled then. Refinance, sale, partition sale, short sale, buyout are all potential options, but your rights and possible choices will depend on whether you own an interest in the property or are just on the loan and an attorney is the only appropriate party to advise you. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes
Russ Ravary, Agent, Commerce Township, MI
Sun Mar 10, 2013
Your divorce attorney should have been smart enough to have it in the divorce decress to absolve you of any responsibility for the household debt and/ have your husband to refi the house
0 votes
Pam Dill, Agent, Rock Hill, SC
Sun Jul 8, 2012
I would think by selling that home to him and splitting the equity. That way he could keep the home and you could repurchase.

Pam Dill
0 votes
Myra Strickl…, Agent, Charlotte, NC
Sun Jun 17, 2012
Good Morning Mona, divorce is never easy, been there. your question is one that is difficult to answer with the limited information I have. You need to speak with your divorce attorney . More than likely, the bank will not just let you off the loan. The home will have to be sold, or your ex can refinance the home in his name.

Again, start by contacting your attorney. Have a wonderful day
0 votes
Jen Pfeffer, Agent, Charleston, SC
Sat Jun 16, 2012
Great question! My own mother just went through this same situation with my dad in their divorce. The details of how this should take place should be in your divorce decree. In my experience the easiest way to get off the deed is to just sign a quit claim deed, which any real estate attorney can draft and record for you pretty inexpensively. However, if in the decree, your husband is to keep the house with you having no financial rights to he property, and/or if you can't qualify for a loan with the current home in your name, the ONLY solution is to have him refinance into his own name which would put the loan in just his name and the deed would be prepared in just his name. There are costs associated with refinancing, but you don't need to do both if he refinances, as preparing a new deed would be included in the attorney fees. I hope this helps! Good luck!
0 votes
James Gordon…, Agent, Hamilton, OH
Sat Jun 16, 2012
Have your husband refinance the loan into his name only.
0 votes
allan erps,A…, Agent, Pearl River, NY
Sat Jun 16, 2012
Hire a real estate Attorney but conditions of your divorce would probably be needed
0 votes
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