QUESTION
Can I remove my name from the mortgage note as my ex wife is late on past payments?
Asked on Dec 01st, 2013 on Divorce - Florida
More details to this question:
I have been divorced for over 13 years and have quit claimed the marital residence to my ex wife as per the agreements made on the divorce decree. The decree is very clear that she is to be responsible for all payments and maintenance. Unfortunately, my name is still on the mortgage note and there is at least $200,000 in equity. My ex wife is currently late on her payment as she has been late several times for the past 13 years. I realize my excellent credit (800 plus) will be effected in a negative fashion. Do I have the right have to her refinance or sell the home? If so, what is my next step? I would really appreciate your reply, as I am very concerned with my credit.
5 ANSWERS
Great question. The only way you can have your name removed is if the Lender agrees and they won?t agree if your spouse does not qualify. The best you may be able to do is to have an indemnification clause in your settlement agreement or by Court Order.
Answered on Dec 05th, 2013 at 11:47 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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See an attorney, you will have to bring a motion to enforce or modify the order.
Answered on Dec 03rd, 2013 at 6:13 PM
Bruce Provda
The bank would be unlikely to take you off the note if she is not paying. Talk to an attorney about forcing a sale.
Answered on Dec 03rd, 2013 at 6:13 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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This should have been taken care of in the original divorce judgment.. including a time frame for refinancing the home.. If not you can file a motion for her contempt of the court's order in the original court where you got divorced complaining that her actions in no paying the mortgage are adversely affecting you. Your desired result is to force her to pay up, on time, and if she does not pay to either refinance the home in her name alone or sell it to pay off the mortgage.
Answered on Dec 03rd, 2013 at 6:11 PM
Social Security Disability Attorney serving Melbourne, FL
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Law Office of Robert E. McCall
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The mortgage company controls whose names are on or off the note, your DOM Judge has no authority.
Answered on Dec 03rd, 2013 at 6:10 PM