N
newwife02
Guest
What is the name of your state?What is the name of your state? NC
My husband and his ex-wife bought a house in 1997. As soon as she moved in, she filed for divorce and they separated. Since the loan was so new and it didn't make sense to refinance it, the judge had my husband sign a quit-claim deed. He has no legal claim to the property, but his name is still on the loan. The bank cannot take him off the loan unless his ex-wife refinances, which she has tried to do but can't due to her bad credit.
Now the ex-wife is thinking about selling the house and the bank advises us my husband's signature would be needed on the paperwork. We want to know if he is entitled to any portion of any profit from the sale of this house. Since the child support he pays his ex-wife for their two minor children is, in part, to provide adequate lodging for the children, he has definitely contributed financially to this loan. Also, his credit has been ruined due to her late payments.
If anyone can tell us what to expect, we would greatly appreciate it!
My husband and his ex-wife bought a house in 1997. As soon as she moved in, she filed for divorce and they separated. Since the loan was so new and it didn't make sense to refinance it, the judge had my husband sign a quit-claim deed. He has no legal claim to the property, but his name is still on the loan. The bank cannot take him off the loan unless his ex-wife refinances, which she has tried to do but can't due to her bad credit.
Now the ex-wife is thinking about selling the house and the bank advises us my husband's signature would be needed on the paperwork. We want to know if he is entitled to any portion of any profit from the sale of this house. Since the child support he pays his ex-wife for their two minor children is, in part, to provide adequate lodging for the children, he has definitely contributed financially to this loan. Also, his credit has been ruined due to her late payments.
If anyone can tell us what to expect, we would greatly appreciate it!