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Second Mortgage Payoff

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M

mkaras

Guest
From Arizona. I have been divorced for 3 years. As part of my divorce settlement, I agreed to give the house to my ex because of the mutual concern of not wanting to move my daughter to another neighborhood and/or school district. In doing this, I gave up all of my rights to our "liquid" assets and was left with a retirement fund. I was willing to accept this only for the good of my daughter. I intentionally kept the second mortgage on the house which expires when my daughter completes high school. I thought it would either keep my ex at her word or cause her to pay the penalty of paying off the second mortgage for misleading me. Now, she wants to sell the house. Obviously, the second mortgage must be paid off. Am I obligated to pay her back if she pays it to sell the house? Our separation agreement is specific in making me obligated to the second mortgage debt and bank which holds it. Can I be made to initiate another loan to pay off that specific court ordered debt? Thanks in advance for your response.
 



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