I am sure this has been discussed before, but because currently I am using a dial-up connection (YUK!) searching is taking forver. Anyway, my wife's ex was supposed to refinance their mortgage after their divorce. He was awarded sole possession of their real property. She filled out all the paperwork and signed a quit claim deed. Needless to say he fell behind in the payments and now it is in foreclosure. The company, Homecoming Financial, has neevr tried to contact her or get any money from her, yet they continue to report on her CR. Is there any remedy whatsoever to this situation? Any and all input would be greatly appreciated.
Sorry to tell you, a quit claim deed does NOT get her off the mortgage. If it is foreclosed it will be on her credit record, if they are entitled to a deficiency on the resale she could be held responsible.
Yep, Why Chat is right. This is about the most common mistake that people make in divorces when it comes to mortgages. She should have waited until he refinances the house and she should have delivered the Quit Claim Deed to him at the closing. Doing it earlier gave him indeed exclusive possession of the house, and it kept her responsible for the mortgage. Now, if the mortgage company decides to go after her for the payments, they can. The divorce decree offers her no protection against joint creditors. Should the house go into foreclosure, she will have even more fun things to deal with. It's time for your wife to consult with a divorce attorney. I am currently working on my Certified Divorce Planner diploma, and I am NOT an attorney, but if you email me and give me some more info I may be able to point you in the right direction. PawMix
Thanks for the reply Why Chat. I figured the quit claim would not be of any help, but is there any legal remedy? The house is in Idaho, we live in Texas and have no real desire to go there to take over, but then again we really can't since the court awarded it to her ex....this is a pretty big mess, but somehow there has to be a fix??
Sarge, Your wife might be able to take her ex back to family court for contempt. That would depend entierly on the wording of her divorce decree and it's not a guarantee of any monetary restitution. One way or the other, taking him to court will not take care of the mortgage problem. I can't think of anything that would make the problem disappear. You could try forking the divorce paperwork over to the mortgage company and see what they are willing to do. They most probably won't be willing to do anything. Unfortunately, your wife has found herself in a situation that really has no good exits that I can think of. Maybe someone else on this board will be able to suggest a battle plan for you. Oh by the way, hello from the Marines PawMix
