Question #76

I have been divorced since 1996. At that time, my husband and I had purchased a home, and I agreed to give him the house. As part of the settlement, he reimbursed me for a disbursement from my 401k plan which we used as a down payment on the home. I signed a quitclaim deed on the house. At that time, I did not know enough about mortgage loans to realize the importance of insisting, as part of the settlement, that my ex refinance the loan in his own name. Now, many years later, the loan still appears on my credit. Now he is behind on his payments, which has had a substantial adverse effect on my credit. Can I sue him and force him to refinance in his and his current wife’s name? Can I force him to sell the home if he can’t refinance due to his payment history? (The house has increased in value significantly since our divorce, and I am not seeking any money, just to be taken off the loan) I am also still on a credit card, which he is behind on. Refinancing would give him enough cash to pay off the credit card. Is suing a viable option? What happens if the mortgage forecloses or he declares bankruptcy? Thanks for your attention. 

Read Answer

Question #323

My husband and I have been married 20+ years and have adult children. We both work and have roughly equivalent incomes. At my request, he has agreed to move out of our marital home, which we own together, and he now rents an apartment. As of this writing, we have no formal separation agreement or divorce action. I claim he should continue to help pay the mortgage, as he continues to have rights to the accruing equity, and he shares equally in debt. He claims that since he vacated our marital home at my insistence, I am now solely responsible for the mortgage. Who’s right???

Read Answer