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Divorced, have a joint mortgage, ex defaulting....what to do?

Yeah, I know...Im an idiot...but here is what happened.

We divorced 3 years ago, owned 2 homes, both had equity. He kept the home with a larger mortgage and more equity, i kept the smaller one. Divorce decree states that he is soley responsible for "his" home and I am soley responsible for mine.

I refi'd took his name off my house...he did not...I am still on his note! Like an idiot, I signed a quit claim deed. So now, he has not paid "his/our" mortgage in 6 months! He agreed to move out, let me pay the back payments and take over the house and he would quit claim it back to me. Of course, he is stalling and the hole is getting deeper and deeper!

What should I do? I know I need an attorney, but will the court give a crap that he is defaulting even with legal papers saying he is responsible? Will the court give me the house back? Remember, we both are on the note....I can pay, he can't....

Answer Question

Asked by Anonymous at 11:53 AM on Jul. 9, 2009 in Money & Work

Answers (3)
  • To heck with the courts, call the mortgage company.

    Answer by Anonymous at 12:54 PM on Jul. 9, 2009

  • The quitclaim should actually clear you. Yes, get an attorney but I believe you are OK.

    Answer by gdiamante at 3:43 PM on Jul. 9, 2009

  • No, a quit claim doesn't clear you. All it does is put his name only on the deed. That has nothing to do with the mortgage. You both signed the mortgage papers and the only thing that would have protected you was to make sure he refinanced in his name only. You are just as responsible now (in the eyes of the bank) for the mortgage as the day you signed the papers. If you can afford to pay the back payments to catch it up, then do it and put the house up for sale. Make sure that you keep proof that you paid the payments and work out a deal with him (in writing) that when the house sells you get your money back plus some. If that house gets foreclosed on your credit will take just as much of a hit as yours because your name is on that mortgage as a co-signor. I sincerely hope that you can get this cleared up and come out on top.

    Answer by slw123 at 10:58 PM on Jul. 9, 2009

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