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Husband on ex-wife's mortgage, selling house

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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!
 


nextwife

Senior Member
There is NO logical reason for him to need to sign anything when the home is sold IF he quit claimed his interest to her. Co-borrower signatures are NOT needed to PAYOFF a loan . Unless he is still on title. The divorce decree should state who is entitled to what in regards to the home. IF he HAS QC'd his interest, he is due nothing from the sale, unless the decree ordered that he is.
 

HomeGuru

Senior Member
newwife02 said:
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.

**A: what paperwork? The deed has already been signed by him.
***********

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.

**A: No, he is not entitled to anything from the sale since he already deeded the property to his ex-wife.
**********

If anyone can tell us what to expect, we would greatly appreciate it!
**A: answer the question.
 

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