Property Held Hostage

My ex co-signed on a condo that I used all my settlement money from our divorce to purchase. He handled all the financing since he is a financial advisor by trade. Of course he is on the mortgage, I knew he would be, but the deed was to be in my name only. I recently found out when i tried to sell the condo that his name is on the deed. Now he will not quick claim it to me, or sign for refinancing unless I give hime $10,000.00 even though my divorce papers say nothing regarding him having any rights in the equity of the property. I am all out of money, the original divorce attorneys say I must take him to civil court and fight for ownership, I don't have the money to have a long court battle. Isn't there something I can do, I will be going in the hospital next month and will not be able to pay the Note. I have secured refinancing along with a home equity loan to help me through this tough time but the bank wants to see a quick claim deed before they will approve it. ISN'T THERE SOMETHING I CAN DO LEGALLY AND QUICKLY TO RESOLVE THIS. I HAVE PAID ON THIS FOR 4 YEARS AND DON'T WANT TO LOSE ALL THE EQUITY I HAVE HERE BY FORECLOSURE.

D. Ambrose said:

My ex co-signed on a condo that I used all my settlement money from our divorce to purchase. He handled all the financing since he is a financial advisor by trade. Of course he is on the mortgage, I knew he would be, but the deed was to be in my name only. I recently found out when i tried to sell the condo that his name is on the deed. Now he will not quick claim it to me, or sign for refinancing unless I give hime $10,000.00 even though my divorce papers say nothing regarding him having any rights in the equity of the property. I am all out of money, the original divorce attorneys say I must take him to civil court and fight for ownership, I don't have the money to have a long court battle. Isn't there something I can do, I will be going in the hospital next month and will not be able to pay the Note. I have secured refinancing along with a home equity loan to help me through this tough time but the bank wants to see a quick claim deed before they will approve it. ISN'T THERE SOMETHING I CAN DO LEGALLY AND QUICKLY TO RESOLVE THIS. I HAVE PAID ON THIS FOR 4 YEARS AND DON'T WANT TO LOSE ALL THE EQUITY I HAVE HERE BY FORECLOSURE.

Click to expand...

My response:

Other than pointing a gun at him and telling him, "Now, sign the deed !!", there's nothing you can do, except to do what your attorney told you to do.

IAAL

I AM ALWAYS LIABLE said:

Other than pointing a gun at him and telling him, "Now, sign the deed !!",

Click to expand...

To our poster, I would just like to add, for the sake of common sense, that this would not be a good idea unless he is a squirrel in disguise.

D. Ambrose said:

My ex co-signed on a condo that I used all my settlement money from our divorce to purchase. He handled all the financing since he is a financial advisor by trade. Of course he is on the mortgage, I knew he would be, but the deed was to be in my name only. I recently found out when i tried to sell the condo that his name is on the deed. Now he will not quick claim it to me, or sign for refinancing unless I give hime $10,000.00 even though my divorce papers say nothing regarding him having any rights in the equity of the property. I am all out of money, the original divorce attorneys say I must take him to civil court and fight for ownership, I don't have the money to have a long court battle. Isn't there something I can do, I will be going in the hospital next month and will not be able to pay the Note. I have secured refinancing along with a home equity loan to help me through this tough time but the bank wants to see a quick claim deed before they will approve it. ISN'T THERE SOMETHING I CAN DO LEGALLY AND QUICKLY TO RESOLVE THIS. I HAVE PAID ON THIS FOR 4 YEARS AND DON'T WANT TO LOSE ALL THE EQUITY I HAVE HERE BY FORECLOSURE.

Click to expand...

Two items:

1. Your ex co-signed on original mortgage. You stated that you had refinanced. Does this mean you did this on your own and his name is no longer on the mortgage?

2. You mentioned that he is a financial advisor. Is he indeed a CFA? If he is, surely there's a State board that would frown on this type of behavior.