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  • Quitclaim deed

    So in my divorce decree it states that my ex will get the house and will refi it within six months. I have yet to sign the quitclaim what happens after I sign this document? How can I hold her to refi the house?

  • #2
    Originally posted by wildman536 View Post
    So in my divorce decree it states that my ex will get the house and will refi it within six months. I have yet to sign the quitclaim what happens after I sign this document? How can I hold her to refi the house?
    As far as I know, if you are on the mortgage, you will still be responsible even with a "quit claim".....I'm not 100% sure though. When you sign this paper, it's just saying that you no longer have any claim to the property, but I don't think that means anything to the mortgage holder. Once you are a borrower, nothing can change that unless the loan is paid, or you die. It may vary from state to state, but IMO you better make sure she is capable of getting refinanced or you could very well get screwed.....
    STEEL




    "SIMPLICITY, CONSISTENCY, INTENSITY"

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    • #3
      Is the refi stated in the separation agreement? If so, then you use the pressure of the courts to make her comply. If not, you have a problem.
      -KidRok-
      "...because I won't accept that I can't."


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      • #4
        Couple of things: You may owe more on the house than its worth? Or she may not not qualify for a refi based on her income only. At which point the judge, depending on what the documents say, can and should order the house sold and the proceeds be split. The laws are different in every state.
        Heckman aka "WISE" OLD MAN

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        • #5
          I am no legal expert- but I WOULD NOT sign a quit claim until you are released from the mortgage. The only thing you would own would be the debt.

          Talk to an attorney before you sign anything.

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          • #6
            This is all making sense. Upside down and she's already talking foreclosure. Paperwork states she assumes all on the house

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            • #7
              Originally posted by wildman536 View Post
              This is all making sense. Upside down and she's already talking foreclosure. Paperwork states she assumes all on the house
              You may want to look into short sale options. At least that way, your and her credit doesn't go in the crapper.(as bad) If your name is on the loan, it will effect your credit also.
              Heckman aka "WISE" OLD MAN

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              • #8
                Originally posted by KidRok View Post
                Is the refi stated in the separation agreement? If so, then you use the pressure of the courts to make her comply. If not, you have a problem.
                Yes it states that she has six months to refi. And that I assume nothing but split equity (if there is any)

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                • #9
                  Originally posted by wildman536 View Post
                  Yes it states that she has six months to refi. And that I assume nothing but split equity (if there is any)
                  You are missing the point here...If she is upside down like you said, nobody will refi the house so it doesn't matter what the court documents say..and even if she short sells, you get nothing. You get even less than nothing if she/you foreclose on the house.
                  Heckman aka "WISE" OLD MAN

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                  • #10
                    Originally posted by Heckman View Post
                    You are missing the point here...If she is upside down like you said, nobody will refi the house so it doesn't matter what the court documents say..and even if she short sells, you get nothing. You get even less than nothing if she/you foreclose on the house.
                    I realize there'll be zero equity but legally wouldn't she be in contempt if she doesn't figure out a way to take care of getting the house solely in her name?

                    Thanks

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                    • #11
                      Not sure why you actually aren't talking to a lawyer directly on this. Good to get guidance from mates, but you really need a lawyer when you start getting technical like this. My 2 cents.

                      (friendly post from a non-practising lawyer)
                      My Log: Back to Basics

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                      • #12
                        Originally posted by wildman536 View Post
                        I realize there'll be zero equity but legally wouldn't she be in contempt if she doesn't figure out a way to take care of getting the house solely in her name?

                        Thanks
                        I can't speak on your states laws, but what is contempt of court? Cause she has the house in both of your names? You are still liable for the mortgage..I think the bigger picture is, she isn't paying the mortage, you are upside down on the house and if you don't short sell it, you will face foreclosure, plain and simple. Your story is getting confusing.
                        Heckman aka "WISE" OLD MAN

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                        • #13
                          As a law student: talk to your lawyer

                          Asking this of the forum is akin to asking if you're "ready for DC" and then all you say about yourself is that you've been "lifting pretty hard for a couple years." There are waaaay too many details that would be necessary to answer this question intelligently, and it differs by state, by judge, by specific situation and sometimes by things like comma placement in the documents. Trust me on this, talk to your lawyer.

                          You might guess right, the forum might guess right, but that doesn't make this process any less wrong. Just my 2 cents.

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                          • #14
                            Originally posted by youngbb View Post
                            As a law student: talk to your lawyer

                            Asking this of the forum is akin to asking if you're "ready for DC" and then all you say about yourself is that you've been "lifting pretty hard for a couple years." There are waaaay too many details that would be necessary to answer this question intelligently, and it differs by state, by judge, by specific situation and sometimes by things like comma placement in the documents. Trust me on this, talk to your lawyer.

                            You might guess right, the forum might guess right, but that doesn't make this process any less wrong. Just my 2 cents.
                            Thanks I talked to her. Advised me that until she refis there's nothing I can do. I guess I was just wanting experience to chime in and say some things.

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                            • #15
                              Originally posted by wildman536 View Post
                              Thanks I talked to her. Advised me that until she refis there's nothing I can do. I guess I was just wanting experience to chime in and say some things.
                              Good.
                              I wasn't trying to be an asshole, I was just trying to tell you not to trust the forum.
                              Also, good luck with the divorce and the house. Hopefully this was or will be a good thing for you and your life.

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