Refinance mortgage decree

[sweetdaughter]

Indiana


I have a legal divorce decree that states that my exhusband had until the end of 2008 to refinance the mortgage on the house that we shared and has both of our names listed as guarantors. He has not done this. I want to buy a home and can't because of this. What recourse do I have to force him to comply with the decree and refinance in his name? I have not lived at the property for 15 months and our decree was final in Feb 2008.What is the name of your state (only U.S. law)?

 

[LdiJ]

Indiana


I have a legal divorce decree that states that my exhusband had until the end of 2008 to refinance the mortgage on the house that we shared and has both of our names listed as guarantors. He has not done this. I want to buy a home and can't because of this. What recourse do I have to force him to comply with the decree and refinance in his name? I have not lived at the property for 15 months and our decree was final in Feb 2008.What is the name of your state (only U.S. law)?

Are you certain that he can be approved for a refinance? The solution, when someone is not obeying a court order, is to file for contempt. However, if he cannot get approved, then you have a problem and may need to try to convince the judge to order that the house be sold.

 

[sweetdaughter]

Thanks for the advice. No, I am quite certain that he cannot get approved on his own. So I can file for contempt. That at least gives me a starting place.

 

[Zigner]

Thanks for the advice. No, I am quite certain that he cannot get approved on his own. So I can file for contempt. That at least gives me a starting place.

He won't be found in contempt.
The judge would need to change the order from a refi to a sale.

 

[LdiJ]

Thanks for the advice. No, I am quite certain that he cannot get approved on his own. So I can file for contempt. That at least gives me a starting place.

If you knew that he couldn't refinance then why didn't you insist on a sale from the get go?

 

[nextwife]

He won't be found in contempt.
The judge would need to change the order from a refi to a sale.

And if it's upside down, he probably can neither refi nor sell until the market corrects, unless you and he have sufficient funds to bring cash to the table to make up any shortfall.

 

[Zigner]

And if it's upside down, he probably can neither refi nor sell until the market corrects, unless you and he have sufficient funds to bring cash to the table to make up any shortfall.

Very good observation...