What is the name of your state (only U.S. law)? NJ
Recently we checked my husband's credit report, only to discover a mortgage company he had never heard of in his negative items. It appears to be the mortgage company that bought out his old mortgage for his old home that his ex wife lives in. She has been 30-60 days past due on several occasions...thus it is affecting by husband's credit. He is listed on the mortgage as joint holder. He has been out of that house for over ten years and divorced for over 8 years. We are assuming that this is the original mortgage they got together (because it lists the orginal mortgage date of 10/1991) and that it was bought ortransferred to another lender. However in his divorce decree it states that his ex would retain the house, and my husband would "execute a Quit Claim deed transferring his interest in the house" to his ex. Which he did. It also states that she is" responsible for any and all payments, obligations, and/or liabilities respecting that property with no contributions to same by Plaintiff (my husband). Defendant( his ex) shall fully and completly indemnify Plantiff with respect to the same. Further defendant shall make a resonable effort to refinance said residence in order to remove Plantiff's name from the mortgage obligation. If defendant fails to pay any three consecutive mortgage payments on the property, and Defendant has not been successful in removing Plantiff's name from the mortgage obligation then the property shall be immediately listed for sale."
Okay so apparently she hasn't gotten a new mortgage, and she hasn't been 3 consecutive months late only 2, how do we get this do stop destroying my husband's credit? We have the name of the lender and are going to call them, but would like to be as prepared as possible about his rights before we call. Any info would be helpful.
Recently we checked my husband's credit report, only to discover a mortgage company he had never heard of in his negative items. It appears to be the mortgage company that bought out his old mortgage for his old home that his ex wife lives in. She has been 30-60 days past due on several occasions...thus it is affecting by husband's credit. He is listed on the mortgage as joint holder. He has been out of that house for over ten years and divorced for over 8 years. We are assuming that this is the original mortgage they got together (because it lists the orginal mortgage date of 10/1991) and that it was bought ortransferred to another lender. However in his divorce decree it states that his ex would retain the house, and my husband would "execute a Quit Claim deed transferring his interest in the house" to his ex. Which he did. It also states that she is" responsible for any and all payments, obligations, and/or liabilities respecting that property with no contributions to same by Plaintiff (my husband). Defendant( his ex) shall fully and completly indemnify Plantiff with respect to the same. Further defendant shall make a resonable effort to refinance said residence in order to remove Plantiff's name from the mortgage obligation. If defendant fails to pay any three consecutive mortgage payments on the property, and Defendant has not been successful in removing Plantiff's name from the mortgage obligation then the property shall be immediately listed for sale."
Okay so apparently she hasn't gotten a new mortgage, and she hasn't been 3 consecutive months late only 2, how do we get this do stop destroying my husband's credit? We have the name of the lender and are going to call them, but would like to be as prepared as possible about his rights before we call. Any info would be helpful.
