Home belongs to me-refi issues

[mommy1972]

North Carolina. Divorce. --Paperwork referred to is NOT signed. We are still negotiating.

My ex and I have pretty much completed all agreements with personal/financial properties. Child support and Custody DONE.

However we opted for him to get all his retirement and I keep the home.

In the divorce agreement he has written that I have to refi the home in 5 months or I have to agree to sell with me getting all funds from the sell.

Problems-When he left he did not pay many bills including the home payments in which Ive had to fight my butt off with Mortgage company to final Mod it for me (which is COMPLETE). My credit because of this and other credit issues from the marriage will not allow me to refi. There is NO way.

What are the laws in NC for this? Can he make me sell it? The kids and I cant get an apartment for this price? We will be on the streets. I was told by another person (but lives in PA) that I could ask to keep the home the way it is till the kids graduate. I dont want that long. Just 5 years or so to get credit up and refi. I dont have the money to get an attorney. He drained us when he left.

 

[justalayman]

if nothing is signed, simply ask him to alter the time requirement of 5 months (which is actually a bit quick anyway) to something more reasonable, like a couple years or so.

If you agree to the 5 months, he can ask the courts to uphold the order. Solution: don't agree to the situation as currently written.

 

[Golfball]

Yes, you can be required to sell, if the paperwork has been signed.

If it hasn't, don't agree to an impossible situation.

 

[Ohiogal]

Be forewarned he can ask that the court require that by ordering it. You will nto be able to tie up his credit after the divorce. Which is what you are doing if he is on the loan for the house.

 

[mistoffolees]

Be forewarned he can ask that the court require that by ordering it. You will nto be able to tie up his credit after the divorce. Which is what you are doing if he is on the loan for the house.

Agreed, although she could then ask for a longer period of time - 5 months is pretty short. Something along the lines of 6 months to a year might be more reasonable, but might not solve her problem.

 

[LdiJ]

Agreed, although she could then ask for a longer period of time - 5 months is pretty short. Something along the lines of 6 months to a year might be more reasonable, but might not solve her problem.

Of course he can also AGREE to give her more time than that, and might if he prefers not to renegotiate the entire property settlement, and wants to ensure that his 401k is left intact.

The house might not sell for the amount they have set as its value.