Could a judge force my husband to let me keep the house?

[abgal]

What is the name of your state?What is the name of your state?TX
My husband & I have agreed on everything but the house. He wants it out of his name but I have some past credit problems. We have 2 children (9 &3 yrs old) that I will have custody of. I don't want them to loose their home. What are the odds of a judge ordering him to keep the house in his name or enforcing an "owner finance" type arrangement? I have been on the same job for over 2 yrs now and make really good money, unfortunately my credit hasn't improved. Everything we have or have done has been in his name. We have paid all of our bills on time but that is only reflected on his credit. I get no "good credit" for all of the bills I have helped him pay off.

 

[stealth2]

It's possible that a judge may order the house kept for some period of time with him still on the mortgage (AND on the deed, of course), but it may only be for a few years - and then you'll be expected to either sell and split the proceeds or refi and buy him out. But I certainly wouldn't expect that you'll be allowed to keep him on the mortgage until the kids are grown.

 

[nextwife]

Because of the standard "Due on Transfer" clause that most mortgages contain, it is highly unlikely that you could became the sole owner until you can remove the mortgage via refinance. The action of transferring title could trigger the loan to be called "due". So, IF you are temporarilly allowed to keep the house, he will likely remain co-owner until the loan is removed. Which means he will be entitled appreciation when he gets his share out.

Are there other settlement assets you might consider using to pay off the loan? And maybe consider looking at other housing options in your neighborhood? Could you perhaps sell and buy a somewhat smaller, more affordable home in your area/school district that could be purchased using seller financing and your share of proceeds from the sale of this home? I had a neighbor sell and literally buy a smaller place down the block. I'm asking because, if my hubby and his projects were not here, I'd strongly consider downsizing to a smaller home within a few blocks of here and reducing my property tax/heating costs/mortgage payments, etc.

Also, have you actually SAT DOWN with a mortgage lender/community banker to investigate what programs you may be able to go into to buy him off the loan?