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    bigeyeslooking's Avatar
    bigeyeslooking Posts: 2, Reputation: 1
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    #1

    Nov 23, 2006, 04:54 PM
    Name on mortgage but not on deed
    I have been divorced for over a year now and in the divorce decree I had to sign the deed of the house over to my ex but my name is still on the mortgage. He is responsible for house payments and all taxes. The house was purchased on an upside-down baloon payment which means every ten years the house comes up for refinancing. When we went to mediation to settle disagreements, he has to sell or refinance the house to pay me out. What is my recourse if I don't want to wait until the house comes up for refinancing in another 6 years to get my money out of the house? I don't have the finances at the present time to file for legal assistance. We live in Texas

    Can he refinance the property and take my name off the mortgage without my signature of not informing me? Can he refinance and not but me out of my part?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Nov 23, 2006, 06:26 PM
    He needs to refinance NOW, not in 6 years, he needs to contact the lender and see about a refinace now.

    Even though the divorce court ruled you should be held harmless, if he does not pay, and they forclose, your credit gets affected also, and they can do collections against you also. ( in most states)

    Your recourse would be only to sue him in divorce court for not living up to his obligation.
    Dwight_Pigg's Avatar
    Dwight_Pigg Posts: 26, Reputation: 3
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    #3

    Nov 24, 2006, 07:30 PM
    Quote Originally Posted by bigeyeslooking
    I have been divorced for over a year now and in the divorce decree I had to sign the deed of the house over to my ex but my name is still on the mortage. He is responsible for house payments and all taxes. The house was purchased on an upside-down baloon payment which means every ten years the house comes up for refinancing. When we went to mediation to settle disagreements, he has to sell or refinance the house to pay me out. What is my recourse if I don't want to wait until the house comes up for refinancing in another 6 years to get my money out of the house? I don't have the finances at the present time to file for legal assistance. We live in Texas

    can he refinance the property and take my name off the mortage without my signature of not informing me? Can he refinance and not but me out of my part?
    When you went to mediation, did the mediator specify a time limit in the agreement to buy you out?
    I do a lot of refinance work for people going through divorce and generally, a divorce decree will spell it out as well.
    Did your divorce decree not specifically order your ex to pay you a certain amount in return for you giving up rights to the property?
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