Can a court compel me to purchase a mortgage?

What is the name of your state? MS

There are lots of house questions on this board, and I have one more.

Actually, I mean 'take out' a mortgage on a house I don't want.

We are divorcing, papers are filed, the 'temporary hearing' determining living arrangements and child arrangements, etc. is pending. We are in the house together at this point (and it is very painful).

We own more house than we can afford (part of the original problem leading to the divorce). My wife seems to think that she will live in this house with the children and I will just go away. We have four kids. Another factor leading to the divorce was her infidelity.

We don't have a mortgage. We moved in 1.5 years ago and took out a 'bridge loan' because we hadn't sold our old house. When it sold, we began the process of converting to a mortgage, but held up when all hell broke loose. So we are still basically renting.

Can a judge order me out and then force me to take out a mortgage? She doesn't make enough money to qualify for the mortgage on her own.

By the way, I'm going to ask for custody of three of the four kids (one is a step-child that I don't have legal rights to). Thanks for the help...

7zcata said:

What is the name of your state? MS

There are lots of house questions on this board, and I have one more.

We are divorcing, papers are filed, the 'temporary hearing' determining living arrangements and child arrangements, etc. is pending. We are in the house together at this point (and it is very painful).

We own more house than we can afford (part of the original problem leading to the divorce). My wife seems to think that she will live in this house with the children and I will just go away. We have four kids. Another factor leading to the divorce was her infidelity.

We don't have a mortgage. We moved in 1.5 years ago and took out a 'bridge loan' because we hadn't sold our old house. When it sold, we began the process of converting to a mortgage, but held up when all hell broke loose. So we are still basically renting.

Can a judge order me out and then force me to take out a mortgage? She doesn't make enough money to qualify for the mortgage on her own.

By the way, I'm going to ask for custody of three of the four kids (one is a step-child that I don't have legal rights to). Thanks for the help...

Click to expand...

No, the court can't order you to buy a house that you don't want to buy. The judge can order the person who wants to keep a house to get a mortgage, or if that isn't possible the judge can order that the house be sold.

You do realize that in today's market you may have a problem selling the house? It really needs to be on the market ASAP.

LdiJ said:

No, the court can't order you to buy a house that you don't want to buy. The judge can order the person who wants to keep a house to get a mortgage, or if that isn't possible the judge can order that the house be sold.

You do realize that in today's market you may have a problem selling the house? It really needs to be on the market ASAP.

Click to expand...

So you are asking about obtaining a mortgage, not buying a mortgage. "Buying a mortgage" is buying the actual loan that is against the property now. Like Countrywide might buy a loan from a mortgage broker.

It is very likely you may not even qualify for a mortgage that size anymore, especially if you are divorcing.

I agree with both the previous posts. However, as a general rule, when the question starts "can a court", the answer is almost assuredly yes as a practical matter. So my quesiton to you is, are you just supposing or is there a court order out there?

answer to the above...

There is no order out there. My wife believes she will live in this house with all the children, and I will pay for it.

We can't afford this house. Our area's real estate is actually doing OK, no real downturn. I'd most likely be able to qualify for the mortgage since the home values around here are stable or climbing.

I told her last night that I recently extended the bridge loan while I'm getting the repairs done to fix it up to sell. She thinks I'm being foolish since it will never go on the market. I don't see how I can be forced to take out a mortgage on a house I'll plan to move out of ASAP (it is two story, and I have a physical disability that prevents me from climbing stairs).

Thanks for your responses...

7zcata said:

There is no order out there. My wife believes she will live in this house with all the children, and I will pay for it.

We can't afford this house. Our area's real estate is actually doing OK, no real downturn. I'd most likely be able to qualify for the mortgage since the home values around here are stable or climbing.

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You may NOT qualify because:

• If wife has primary custody, CS will now be deducted from your income (plus additional items, like possibly child care)
  
• A household for yourself, along with all related expenses, will now be needed.
  
• IF SS is awarded, that, too will come off your income.
  
• You may now longer get the same tax deductions for the kids each year. This effectively changes your income for underwriting purposes.
  
• Lending standards have changed.

Does wife for work? If not, how long since she left the workforce?

nextwife said:

So you are asking about obtaining a mortgage, not buying a mortgage. "Buying a mortgage" is buying the actual loan that is against the property now. Like Countrywide might buy a loan from a mortgage broker.

It is very likely you may not even qualify for a mortgage that size anymore, especially if you are divorcing.

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I was referencing buying the home, not buying the mortgage. It seemed to me that they had not entirely purchased the home yet.

However, I am certain that a judge will not order him to take out a mortgage so that his wife can live in the home with the kids unless he agrees to that.

7zcata said:

We don't have a mortgage. We moved in 1.5 years ago and took out a 'bridge loan' because we hadn't sold our old house. When it sold, we began the process of converting to a mortgage, but held up when all hell broke loose. So we are still basically renting.

Click to expand...

Poster, a bridge loan IS a mortgage. It is a short term mortgage intended to be held only until the second property is sold.