Am I entitled to 1/2 fair market value of home?

[Eskay H.]

This pertains to Illinois. I purchased a home in 1997, got married in 1998 and divorced this past August. I refinanced the house after the marriage, adding my ex-husband to the mortgage and the deed. I was awarded the house in our divorce, but due to co-signing student loans for my daughter I couldn't get financing to put the house back into my name only. I am now living with my elderly parents and my ex-husband is living in my/our home. He hasn't done anything about financing and putting the house into his name only, so I am still on the loan and the deed although I have not contributed to the payments since the divorce was final in August. Am I entitled to 1/2 of the fair market value of the home?

 

[nextwife]

How much EQUITY is there at todays market value?

 

[justalayman]

You were awarded the home in the divorce. That means you are entitled to the entire house, not just 1/2.

He hasn't done anything about financing and putting the house into his name only,

why would he. You said you were awarded the house in the divorce.

 

[Antigone*]

You were awarded the home in the divorce. That means you are entitled to the entire house, not just 1/2.

why would he. You said you were awarded the house in the divorce.

He is basically paying rent when he pays the mortgage.

 

[nextwife]

If, for example, the place is upside down, it is a good thing that the mortgage is being covered.

 

[Eskay H.]

I tried to get the house after the divorce and no bank would give me financing until my daughters college loans are paid for. He told me that if I stayed in the house I would have to immediately put it on the market & try to sell it to get him out from under the debt. I didn't know what to do so I left and went to stay with my parents. I won't be able to get financing for at least a year, my daughter just graduated college a few months ago and is making payments on those loans.

 

[Antigone*]

I tried to get the house after the divorce and no bank would give me financing until my daughters college loans are paid for. He told me that if I stayed in the house I would have to immediately put it on the market & try to sell it to get him out from under the debt. I didn't know what to do so I left and went to stay with my parents. I won't be able to get financing for at least a year, my daughter just graduated college a few months ago and is making payments on those loans.

Rule #1 ~ DO NOT listen to your ex.

This is your home. He is paying your rent. If I were you, I'd lay low. As long as he is paying the mortgage you are in a good position. The moment you start making any waves, he might stop making those payments and move.

Do not sign anything that he presents you with unless you want to sign away your home.