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Signing house to ex-wife

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shaynalyn1

Guest
What is the name of your state?
Florida

Hi! My husband went to the bank to see about refinancing our car, and they told him that his beacon score dropped 100 points because of a foreclosure. It is because of his ex-wife who lives in the house they previously owned together, went into foreclosure. The foreclosure was stopped, but now it is hurting my husbands credit rating. He signed the quit claim deed to her, and in 2000, she had even taken out a 2nd mortgage on the house, which only lists her as the owner. Their settlement agreements states that the wife should not hold him responsible for anything that has to do with the house, but now she has struck again!! How do we get her to refinance? What can be done to ensure that his credit is not ruined because of her? He is military, so do you think that the military legal office will be able to straighten this out or are we going to have to get an attorney and court order to make her refinance? :confused:
 


HomeGuru

Senior Member
shaynalyn1 said:
What is the name of your state?
Florida

Hi! My husband went to the bank to see about refinancing our car, and they told him that his beacon score dropped 100 points because of a foreclosure. It is because of his ex-wife who lives in the house they previously owned together, went into foreclosure. The foreclosure was stopped, but now it is hurting my husbands credit rating. He signed the quit claim deed to her, and in 2000, she had even taken out a 2nd mortgage on the house, which only lists her as the owner. Their settlement agreements states that the wife should not hold him responsible for anything that has to do with the house, but now she has struck again!! How do we get her to refinance? What can be done to ensure that his credit is not ruined because of her? He is military, so do you think that the military legal office will be able to straighten this out or are we going to have to get an attorney and court order to make her refinance?

**A: as long as your husband is still on the mortgage of that home, he is liable and at risk. I do not know the divorce instructions for the property so can't help you there. He needs to seek legal counsel be it military or otherwise.
 
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shaynalyn1

Guest
Thanks for the info. Here is what it says on the divorce/marital settlement agreement that pertains to the property:

The parties agree that the wife shall receive all right, title, and interest to the real property of the parties. The Wife assumes and agrees to pay the mortgage toSunTrust which encumbers said property and further agrees to hold the Husband harmless and free from all claims or liability under said mortgage. The Husband will execute a good and sufficient quitclaim deed releasing his right to the homestead property of the parties and the Wife shall pay all costs of transferring the title to said property. The Husband transfers and assigns to the Wife his interest in the escrow account with the mortgage company. The Husband will not be responsible for shortages in the account nor does the Husband have any claim for excesses in the account. The Husband transfers and assigns to the Wife his interest in the Homeowners insurance policy covering the property. All transfers contemplated by this paragraph of this agreement shall become effective upon the entry of a Final Judgement of Dissolution of Marriage in any subsequent divorce proceeding.

Thanks again!
 

HomeGuru

Senior Member
shaynalyn1 said:
Thanks for the info. Here is what it says on the divorce/marital settlement agreement that pertains to the property:

The parties agree that the wife shall receive all right, title, and interest to the real property of the parties. The Wife assumes and agrees to pay the mortgage toSunTrust which encumbers said property and further agrees to hold the Husband harmless and free from all claims or liability under said mortgage. The Husband will execute a good and sufficient quitclaim deed releasing his right to the homestead property of the parties and the Wife shall pay all costs of transferring the title to said property. The Husband transfers and assigns to the Wife his interest in the escrow account with the mortgage company. The Husband will not be responsible for shortages in the account nor does the Husband have any claim for excesses in the account. The Husband transfers and assigns to the Wife his interest in the Homeowners insurance policy covering the property. All transfers contemplated by this paragraph of this agreement shall become effective upon the entry of a Final Judgement of Dissolution of Marriage in any subsequent divorce proceeding.

Thanks again!

**A: sounds like the ex-wife's attorney wrote that agreement. If it was your husbands attorney, that attorney should be shot.
Reason being, one simple sentence was left out. The sentence about the wife refinancing the mortgage within 6 months or so.
The hold harmless indemnification stuff is worthless crap as lenders
are not a party to a divorce settlement, have no legal obligation to recognize the divorce instructions with respect to waiver of mortgage liability and can rightfuly invoke their ability to legally foreclose or put the mortgagors in dafault pursuant to the signed mortgage and prom note.
 
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shaynalyn1

Guest
So, the best thing would contact a local attorney/paralegal to get a new court order? Would he have to amend the martial settlement agreement or just create a new order? We would like the least amount of contact with the ex as possible!
 

HomeGuru

Senior Member
shaynalyn1 said:
So, the best thing would contact a local attorney/paralegal to get a new court order? Would he have to amend the martial settlement agreement or just create a new order? We would like the least amount of contact with the ex as possible!

**A: I take it the divorce was final and if so, your husband cannot go back and get a new court order or change the setltlment agreement. It's a done deal and your husband is the cooked turkey.
 

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