how can i keep the house?

What is the name of your state? Utah

the mortgage loan is in my husbands name only, but both of us are on the deed. i want to stay in the house with our two children ages 4 and 1, but he won't let that happen unless i can either buy him out or assume the loan in my name.
i'm not currently working outside the home and i don't have the best credit. do i have any legal options that would allow my children and i to reside in our home?

check with mortgage co.

I am in GA I know that I just went through this almost exact thing, except my name is not on mortgage or deed. If you go to court and let the judge decide you will more than likely get the house, because of the kids. If you are awarded the house call the mortgage co. and send them the divorce papers stating such and ask them about assuming the loan. In alot of cases of divorce the mortgage co lets the one who was awarded the home do a non qualifying loan. Be sure if you go to court that the judge orders him to sign loan assumption papers put it in writing or he will drag his feet to do it. Kind of been there...

Tina,

Thanks for the heads up. Finally someone who has been there. I'll definitely try it. Thanks again!!

Re: check with mortgage co.

tina partridge said:

I am in GA I know that I just went through this almost exact thing, except my name is not on mortgage or deed. If you go to court and let the judge decide you will more than likely get the house, because of the kids. If you are awarded the house call the mortgage co. and send them the divorce papers stating such and ask them about assuming the loan. In alot of cases of divorce the mortgage co lets the one who was awarded the home do a non qualifying loan. Be sure if you go to court that the judge orders him to sign loan assumption papers put it in writing or he will drag his feet to do it. Kind of been there...

**A: I wish it were this easy. In all the numerous cases that I have been involved in, not one lender allowed a non working spouse to assume the mortgage loan.
I see a big problem here because the husband will not sign off on the deed until he is released from the mortgage. And the writer's credit is not so hot.
Corrected by IAAL and...

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Re: Re: check with mortgage co.

HomeGuru said:

**A: I wish it were this easy. In all the numerous cases that I have been involved in, not one lender allowed a non working spouse to assume the mortgage loan.
I see a big problem here because the husband will not sign off on the dead until he is released from the mortgage. And the writer's credit is too so hot.


My response:

Whoa, you wanna try that one again?

There are a few words and phrases that don't make sense; e.g., "dead" and "And the writer's credit is too so hot."

Thanks.

IAAL

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Hahaha. So much for this $6000 laptop I got for Christmas.
It si grate to tak on trips cus its so smal but the keybord is too tiiny and it haz a min of its own. I bought the lowe model that did not came with spull check or gramma cheque.

I am currently seeking employment so that I can afford to pay on the house. Doesn't that make a difference?

I mean when I do get a job and I can afford to make the mortgage payment then it won't be like I'm assuming the loan without a job, right?? Wouldn't the mortgage company take that into consideration?

My husband has at least agreed to give me some time to find work before we file for the divorce.

Like I said you have to check with the mortgage co. to see what type of loan you currently have. I know that in my case we went to court and the judge desided what to do. I got the house and I am to make Payments on it and if I ever sale I have to give my ex 25% of net equity only. It all depends on the judge and if you were at fault. Also the judge did not order my ex to sign a quit claim deed or to let me assume the loan. So in a way I have him tied up, in a way but he also has me at a disadvantange because I am building his credit and I need to be building mine. I would of never thought a Judge would do a divorce decree that way but in my case he did. I plan on taking my ex back to court so I can assume loan. The judge will have to force it though. If your husband will not work with you. Don't worry about it. Let the judge deside. The Judges main concern are those 2 kids. The kids need a safe secure place to grow up and especially when it seems there life is falling apart. The judge will not take the house away from you if you were not at fault. The Judge can order your ex to give you time to assume loan. I just went through this 2 years ago and I am in GA but I know those 2 kids will be the first concern of any judge in any state. You need to get you a lawyer Don't try to do this yourself You have 2 kids to put through school Plan for them and if he wants to help great but get it in writting.

While a judge can decide what the two of you should do in terms of the house/mortgage, s/he CANNOT force the mortgage holder to allow you to assume the loan. You will have to refinance based on your own merits - or the house will have to be sold.

mortgage co. can't force you to sale home

The mortgage co. can not force you out of the home as long as payments are being made. It is your home to. The judge can not make a mortgage co. do anything. The judge can divide the property. If the judge gives you title to property or what ever the mortgage co.will not make you assume the loan. As long as the mortgage is being made that is all the mortgage co. cares about. Your husband or soon to be ex will insist I am sure. One good thing at least you are on the deed. If you can not come to an agreement I am just saying the Judge will keep in mind your situtation about not working raising kids is a full time job. I know in my divorce my name was not on the deed or mortgage and I was awarded the home and no order was entered to change the deed or mortgage. But in the interests of both parties it should have but at the time I was a stay at home mom and I think the Judge knew it would be a while before I could qualify for the mortgage. So he left things almost like they were when he left. That to is where it is today still in my ex husbands name and me making payments. He is not crazy about it either but it is working for now. A judge can not make a mortgage co. let you assume loan but then again the mortgage co. can not take the home from you as long as payments are being made. Your ex husband can push the judge in his favor but so can you.

Thank you all for your replies.

I appreciate your insight Tina, especially since you've been through it. I will definitely also seek advice from an attorney and hopefully it all works out for the best.

I just want to raise my kids in our home. It's the only home they know.

Thanks again.