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I would like to know how I can get out of a . I am going through a divorce and I don't want to lose my credit, but my soon to be x will not just pay the mortgage if I don't stay in the house until it sells. I have had my house up for sale for almost 2years. What can I do to get out without losing my credit.
You can not just get out of a mortgage, you have to pay it off. So have you lowered the price of the home to the mortgage amount?
Soon to be X sounds like you are still in court. Have you asked the judge to require mortgage payments on the home or what arrangements have been discussed? Who will be living in the home until it sells? There is no walking away rom amortgage because of a divorce but judges usually bottle up this topic in the decree.
Chuck told you right. Sometimes a lender will accept re-conveyance of a property. Right now, lenders have all the properties they seem to want. They would probably want to be paid. Lowering the price would get you a sale, but realistically, you might owe more than you can get. It might be better to keep the payments current for another couple of years, hoping the market will turn enough by then.
Just curious: do you have a lawyer? Do you have children?
I have 2 children and I had one lawyer but I getting a different one she was not representing me in the best interest of myself orQuote:
Originally Posted by George_1950
Are either, or both, of your children by your husband? And, does he earn more than you? If so, you have legal claims to child support and alimony which should enhance your financial situation. I realize everyone has their own 'breaking point' at which he/she feels it is useless to go forward; and realizing that point makes it easier to file bankruptcy. I am suggesting only that you maximize your financial support from your husband as much as possible.Quote:
Originally Posted by lbialy
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