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Property issues post divorce

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mclivofav

Junior Member
What is the name of your state (only U.S. law)? VA

Well, I have been divorced almost one year...We signed a property settlement agreement that stated she had zero liability or interest in the maritial residence, however with the stipulation I refinanced or sold to remove her name from the loan..My mortgage company changed very shortly after signing this, to my surprise my new mortgage company will not remove her name from the loan like my previous said they would with the court issued agreement...She destroyed my credit and was left with her debt that she accumulated in my name, well I couldnt refinance b/c of the recent economy and my credit to do so...this had to happen by March 15, 2009..well I put the house on the market to sell in November of 2008 to try and avoid the upcoming deboggle...So now I cannot refinance and the house won't sell and she is trying to take me back to court for me being contempt...what do I do?
 


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mistoffolees

Senior Member
mclivofav said:
What is the name of your state (only U.S. law)? VA

Well, I have been divorced almost one year...We signed a property settlement agreement that stated she had zero liability or interest in the maritial residence, however with the stipulation I refinanced or sold to remove her name from the loan..My mortgage company changed very shortly after signing this, to my surprise my new mortgage company will not remove her name from the loan like my previous said they would with the court issued agreement...She destroyed my credit and was left with her debt that she accumulated in my name, well I couldnt refinance b/c of the recent economy and my credit to do so...this had to happen by March 15, 2009..well I put the house on the market to sell in November of 2008 to try and avoid the upcoming deboggle...So now I cannot refinance and the house won't sell and she is trying to take me back to court for me being contempt...what do I do?
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You're in contempt. The order said you were to refinance and you didn't. The court isn't interested in your sob story.

You can either hire an attorney to fight the contempt charge or you can reach an agreement on a reasonable settlement.
 
M

mclivofav

Junior Member
I understand, I know I am in contempt.. I have offered to give her the house she doesn't want that either...Not trying to sob just wanna know what to do...I cannot re-finance and the house hasn't sold..I put the house up for sale to avoid being in contempt...Well what can happen with me being in contempt?
 
A

Antigone*

Senior Member
mclivofav said:
I understand, I know I am in contempt.. I have offered to give her the house she doesn't want that either...Not trying to sob just wanna know what to do...I cannot re-finance and the house hasn't sold..I put the house up for sale to avoid being in contempt...Well what can happen with me being in contempt?
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I'd say 50 lashes would probably make the ex really happy:p
 
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Isis1

Senior Member
it is quite possible you will be held in contempt, however the judge may be willing to give you a continuance. if the house is currently listed to be sold, then the judge may see it as an effort. as opposed to deliberately not selling or refinancing.
 
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mistoffolees

Senior Member
mclivofav said:
I understand, I know I am in contempt.. I have offered to give her the house she doesn't want that either...Not trying to sob just wanna know what to do...I cannot re-finance and the house hasn't sold..I put the house up for sale to avoid being in contempt...Well what can happen with me being in contempt?
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What CAN happen? You could go to jail.

What is likely to happen? If you've listed the house at a fair price in order to make a good faith effort to address the issue but things beyond your control prevented you from refinancing or selling, the judge may give you a warning and tell you to get the house sold - even if you have to cut the price. It doesn't serve anyone's interest to severely punish someone who is making an honest effort to comply.

Or anything in between.

Best bet is to ask your attorney who will know the judge and be better able to predict his/her response.
 
M

mclivofav

Junior Member
Thank you I sincerely am...So if I have it listed 6% above payoff that would be considered reasonable I believe..that allows agents to take there money and pay the debt..
 
M

mistoffolees

Senior Member
mclivofav said:
Thank you I sincerely am...So if I have it listed 6% above payoff that would be considered reasonable I believe..that allows agents to take there money and pay the debt..
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That's no way to determine market value. In many parts of the country, homes wouldn't come close to selling for payoff value.

You should really rely on an experienced realtor to tell you what your home is likely to sell for and where you need to price it to get a sale in a reasonable time. If that's 6% over payoff, that's great, but it could be less than payoff - in which case you'll need to go to the bank to see if you can work out a short sale deal.
 
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mclivofav

Junior Member
according to all my realtors it is priced great... a short sale would put me right back in contempt b/c it would damage her credit is what I was told which I have to supposedly keep in good standing as far as the house goes...if this isnt the case I would cut it loose tomorrow
 
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