refinancing loans after divorce

What is the name of your state? NC
My divorce was final last year. There are a mortgage and car loan in both of our names that I am in possession of. The legal separation says that I am responsible for those loans plus one other that is just in my ex-husbands name. I have been paying them on time every month. Now my ex-husbands' new wife told me to get them refinanced in my name because they will have to pay an extra percent for a loan that they are taking out. I don't want to refinance my mortgage because I'm paying 4 percent interest. She said that if I don't refinance, she'll get a lawyer. There is nothing in the legal separation that said I had to refinance. Do I? Thank you.

[I AM ALWAYS LIABLE]

Originally posted by lbwillis1
What is the name of your state? NC
My divorce was final last year. There are a mortgage and car loan in both of our names that I am in possession of. The legal separation says that I am responsible for those loans plus one other that is just in my ex-husbands name. I have been paying them on time every month. Now my ex-husbands' new wife told me to get them refinanced in my name because they will have to pay an extra percent for a loan that they are taking out. I don't want to refinance my mortgage because I'm paying 4 percent interest. She said that if I don't refinance, she'll get a lawyer. There is nothing in the legal separation that said I had to refinance. Do I? Thank you.

My response:

Good for her! She has no legal standing to sue you, or to be included in any lawsuit. However, let her husband spend the thousands of dollars it takes to file a lawsuit for, and maintain an action for, "partition." They will be on the hook for all the costs and fees because there was, apparently, no provision for refinancing in your marital settlement agreement.

Doing that will put off their plans for at least a couple of years, further pissing her off - - and that's assuming that they even have the money to hire an attorney in the first place!

Fortunately for you, even if they win a partition lawsuit, mortgage rates are within the 4% range right now anyway. So, they'll lose alot of money, and you'll be virtually in the same position as you are now.

IAAL

[vrzirn]

However, our poster does not specify if the ex-husband still has his name on the deed. If that is the case, he will possibly share in any appreciation of the house value in the future. Additionally, if the ex should be sued a lien could be placed on the house.
Without knowing the details of the division of assets you cannot say with certainty that not obtaining the refinance is the wiser course.