Contempt on refinancing house

[Kasumi2178]

What is the name of your state (CT)? My ex was supposed to refinance mortgage in her own name according to divorce agreement it was to be done by 2015 a quit claims was also to be signed after the home was refinanced or house would be put up for sale. I took on bills during divorce per agreement so she would be able to refinance. Instead she opened more credit cards stopped paying bills and has 27000 in debt shes being taken to court for. She had me sign quit claims under false pretense believing refinace was completed so she could get a modified loan without my knowledge. My credit which was 780 is now 560 because she's had 13 late payment on mortage shes destroying my credit. Is it possible to ask court to let me and my wife assume thr mortage since she is unwilling and unable to do so because she ruined her own credit? What are our options?

 

[FlyingRon]

You seem to be confused. YOU are responsible for the mortgage you agreed to until it is paid off (possibly through refinance). Your divorce decree has no bearing on the lender. There's no need for you to "assume" anything becuase you are still obligated to make sure the payments.

You need to talk to your lawyer, you obviously weren't listening before because one would not advise you to deed property away you were still obligated to pay for except coincident with the refi.

Since your ex appears to no be able to refi due to bad credit, no court can force that. There may be a way for you to adjust the settlment to get the propery back.

 

[HRZ]

Laymans suggestion....signing a quit claim without concurrent proof that the home was refinanced and you were off all obligations is a very dumb move ....you gave away your legal ownership share. and might put you in a bad practical position if she is unable to pay and she is living there ..did your attorney advise you on that quit claim step?

Again just as a layman..you best be using smart attorney to sort this out...you are doing badly on your own !
And if she is $27,000 in the red she may be able to scuttle the ship and leave you holding the entire bag on the mortgage . You might want to debate details but the bottom line remains the same ..you risk sinking and it's beyond your skills to pull off a safe cure on your own .

I don't know the rest of your fact pattern but if she is in there, getting a house back with her still in as an untrustworthy tenant is a very mixed blessing...tenants have a big pile of rights and it may be darn long and hard to get her out.

 

[Kasumi2178]

Not confused I understand and I meant is it possible to assume mortgage by refinancing in my own name removing hers even tho it says if SHE is unable to refinance in her own name property is to be sold in court order.

 

[FlyingRon]

Not confused I understand and I meant is it possible to assume mortgage by refinancing in my own name removing hers even tho it says if SHE is unable to refinance in her own name property is to be sold in court order.

What court order? If you're going to omit facts, we can't help you.

What do you think refinancing in your name will do for you? You're already RESPONSIBLE. Are you going to make yourself SOLELY responsible? It won't get you the property back.

And the answer is, you can't. You can't take a mortgage out on property you don't own. You couldn't legally encumber it.

 

[HRZ]

DO you think lenders are nuts...relative to this property you do not hold an interest that can be used to secure the mortgage. And you don't control the selling part either . THere might well be steps that work to buy it in and get her out ....but you lack those skills ..sorry but somebody needs to tell you that ...and the steps in my state could well be bad steps in your state ...you want CT attorney . ( the fees and taxes in my state could easily take a 20% or more slice out of supposedly simple buy sell pair of deals )

 

[Kasumi2178]

What court order? If you're going to omit facts, we can't help you.

What do you think refinancing in your name will do for you? You're already RESPONSIBLE. Are you going to make yourself SOLELY responsible? It won't get you the property back.

And the answer is, you can't. You can't take a mortgage out on property you don't own. You couldn't legally encumber it.

Maybe im not explaining clearly. In the divorce agreement that was made and signed by courts in 14 states that the plaintiff (ex wife) will refinance the property in her own name removing mine by 2015 and that a quit claims deed will be signed when house is refinanced. I was under the inpression when signing the quit claims deed it was refinanced and done. I didnt find out my name was still on and she never refinanced until i applied for loan and found out my credit was shot due to late payments on mortage.

 

[Kasumi2178]

Maybe im not explaining clearly. In the divorce agreement that was made and signed by courts in 14 states that the plaintiff (ex wife) will refinance the property in her own name removing mine by 2015 and that a quit claims deed will be signed when house is refinanced. I was under the inpression when signing the quit claims deed it was refinanced and done. I didnt find out my name was still on and she never refinanced until i applied for loan and found out my credit was shot due to late payments on mortage.

2014 not 14 states

 

[Kasumi2178]

2014 not 14 states

It also states that of she has not refinanced or is unable to do so the property is to be sold.

 

[Kasumi2178]

It also states that of she has not refinanced or is unable to do so the property is to be sold.

I read that with divorce an assumption of the mortgage is something that happens often.

 

[Kasumi2178]

What court order? If you're going to omit facts, we can't help you.

What do you think refinancing in your name will do for you? You're already RESPONSIBLE. Are you going to make yourself SOLELY responsible? It won't get you the property back.

And the answer is, you can't. You can't take a mortgage out on property you don't own. You couldn't legally encumber it.

The property is still in both of our names she is supposed to have had refinanced into her own name removing mine and has yet to do so

 

[latigo]

It also states that of she has not refinanced or is unable to do so the property is to be sold.

You told us that in your first post!

So, why haven't you taken measures to enforce that provision instead of rambling senselessly about assuming an indebtedness upon which you are already obligated?!

 

[Kasumi2178]

You told us that in your first post!

So, why haven't you taken measures to enforce that provision instead of rambling senselessly about assuming an indebtedness upon which you are already obligated?!

That's my question what if anything can be done and even tho agreement states property is to be sold if unable to refinance would it be possible to instead of her getting home I get home and remove her off mortgage.

 

[HRZ]

Best I can say is you have been in a fog since 2015 ...and it hasn't lifted since you failed in 2015 to make sure it was properly refinanced with you off any responsibility. And it's not going to get sold anytime soon wo a court order to get it done and then some . In an economic sense she is taking a free ride on your credit ...wise up!

 

[latigo]

That's my question what if anything can be done and even tho agreement states property is to be sold if unable to refinance would it be possible to instead of her getting home I get home and remove her off mortgage.

Listen, please!

The court CANNOT relieve her from the mortgage! No more than it can relieve you from the mortgage.

Secondly, the court has already awarded the home to your ex-wife and it is not going to revisit its distribution of the marital property by taking the home from her and awarding it to you. That could throw a wrench in the whole business of the court ordering an equitable division of the marital property, and the court is not going to do it! Understand?

Lastly, you have an adequate remedy that covers her failure to refinance the mortgage. Its built right into the decree. So do something about it and stop whining about how she has trashed your credit!

You took that risk with your eyes wide open in relying on her to pay the mortgage installments for which you were equally responsible. And one you could have readily avoided by insisting that in lieu of her taking the home that it be placed on the market and remain there until it sold.