Ask Experts Questions for FREE Help !
Ask
    christine7172's Avatar
    christine7172 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 21, 2008, 07:51 AM
    Mortgage contracts after divorce
    I have been divorced three years and spouse was awarded house. I signed over warranty deed but my name is still on the mortgage loan and he is now making late payments which is reporting negatively on my good credit. How do I get out my name off the mortgage contract so I am no longer held responsible since I no longer own the house?
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
    		  
    #2

    Jan 21, 2008, 08:35 AM
    I'd try dealing directly with the mortgage company. Advise them that you've been divorced and your ex has possession of the house and submit supporting documentation, including a copy of the warranty deed. Then ask, in writing, that you be taken off the loan.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #3

    Jan 21, 2008, 09:21 AM
    Quote Originally Posted by christine7172
    I have been divorced three years and spouse was awarded house. I signed over warranty deed but my name is still on the mortage loan and he is now making late payments which is reporting negatively on my good credit. How do I get out my name off the mortage contract so I am no longer held responsible since I no longer own the house?


    I'd call your Attorney and see how this slipped through the cracks - it should have been addressed (although it often isn't). If he defaults and the house goes into foreclosure you are still on the paperwork and would have an uphill legal fight. My divorce contained a clause concerning refiling the Deed AND reapplying for the mortgage in just my name.

    I've seen this be favorable to the party who is not paying the mortgage and is no longer the owner of the property - the property continues to appear on their credit report as an asset when, in fact, it is not.

    You could also contact the Mortgage company, take your divorce papers in, see what they advise.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Rent Contracts in CA [ 1 Answers ]

I have rented a house in CA for 2 years. 1 year after the rent started I got an offer to relocate and I gave the landlord a notice that I might ask to leave the house before the end of the contract. Two weeks after the email I have sent the landlord my offered contract oversea was canceled. When I...

Contracts with a minor [ 2 Answers ]

When I was younger I got involved with a guy that was NOT good for me. He eventually got me involved with porn and at the age of 13-14 I signed a contract. Although I was underage, It was a legal binding document and since I was emancipated from my mother... my signature was all that was required....

No contracts.. [ 4 Answers ]

My workplace is just getting quieter and queter. The boss has already got rid of someone as he isn't making enough money to cover his wages. He cut this guys wages, so he left. He was bascially trying to get rid of him. A lot of people are leaving and now there are only a few of us left. What...

Land Contracts [ 4 Answers ]

I have been trying to sell my house for six months now. My realtor's agreement is about to expire, so I thought of listing the property myself as I can sell it for less without the realtor fee. I was considering to advertise it with a land contract to attract more prospective buyers. I...

Apartment contracts [ 10 Answers ]

We have lived in our apartment for 27 years. We have new owners and they want us to sign a new contract. The contract states that we will be financially responsible for all repairs due to the apartment and if repairs are not made that they have the right to take personal possessions from your...

View more questions Search