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Old 02-20-2009, 02:26 PM
 
2 posts, read 4,897 times
Reputation: 11

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My hubby was very nice to his ex. When going through the divorce, he signed on a house for her, bc she didn't want the old house. His Ex is a realtor, and she reassured him that there was a way to remove him from the note once the divorce was finalized. Niavely, he believed her. He also signed a warranty deed. She has remarried and moved into a different house, but did not sell the house my hubby signed for her. She leases the house he signed on for her. She has since then (repeatedly) been late on her mortgage for that house. Currently, my hubby's credit report showed that she is 120 days late.

Someone PLEASE tell me there's a way to get her house off of his credit!?!?!?!? MY hubby lost his job and we can no longer afford this house we're in. We could sell it, but couldn't get another house. No bank is going to approve us with her house on his credit AND the late payment history on her house.

An apartment in this zip code (which we have to remain in as long as the kids are in school...according to the divorce decree) for us and the 3 kids would cost as much as this house...it's ridiculous really. So until her house is removed from his credit, we're screwed...please help!
Thanks
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Old 02-20-2009, 02:48 PM
 
37,315 posts, read 59,895,840 times
Reputation: 25341
can't believe the house was not taken care of at the time of the divorce--they did not own it in TX or get the divorce in TX I bet...

we bought house from couple who were getting divorce and that was the last major thing to be done to finalize the settlement

your husband should have had a lawyer and not believed his wife...ex-wife
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Old 02-20-2009, 03:00 PM
 
2 posts, read 4,897 times
Reputation: 11
No, no...I didn't make myself clear - sorry. They owned it in Tx, got divorced in Tx. During the separation, he signed on this new house for her. In the divorce, she was awarded the new house, he awarded the old, and they both had to sign warranty deeds.
yes, it's my belief that his attorney dropped the ball on their job of protecting their client's (My hubby) best interests. Also, my hubby shouldn't have believed the ex. The ex is a realtor, so he thought she new of some 'back door' way to do it without refinancing. According to the ex, it could only be done after the divorce was finalized.
we understand he never should've believed her, or trusted her, but hind-sight's 20/20.

What are our options for recovering from her deceit??
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Old 02-20-2009, 03:34 PM
 
Location: DFW
12,229 posts, read 21,514,642 times
Reputation: 33267
Sorry for your situation. I don't think you have any options other than the obviously unfeasible one of making all the mortgage payments for her so she can't be late and wreck your hubby's credit.

If he signed papers on a mortgage, he agreed to be responsible for the mortgage.
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Old 02-20-2009, 04:31 PM
 
Location: Upper East Side of Texas
12,498 posts, read 27,004,055 times
Reputation: 4890
Hire a lawyer?
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Old 02-21-2009, 11:55 AM
 
Location: Dallas, TX
2,346 posts, read 6,929,257 times
Reputation: 2324
Default Re:

Well, if he signed on the mortgage, isn't it also HIS house? Maybe he should sue her for his portion of the rent payments she is collecting.
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Old 02-21-2009, 04:17 PM
 
Location: Dallas/Fort Worth, Texas
4,207 posts, read 15,261,385 times
Reputation: 2720
He can sell it by himself if she is not on the deed of trust? or do a short sale.

Yes there is a way where you can remove one of the persons from the deed IF their income was not taken into consideration at the time of the purchase. It sounds like it was not the case. She would have to refinance to get the house under name alone but since she's late in payments, it's unlikely that she will qualify for a loan.

My advice would be to get an attorney like previously recommended. Sorry, I am sure he meant to be nice and she took advantage of him.

Naima
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Old 03-03-2009, 10:18 AM
 
5 posts, read 13,662 times
Reputation: 10
Yep, a GOOD lawyer is what you need (unfortunately). If she refinanced the house into her own name and paid him out his equity, it would get it off his credit. Sadly, he is going to have his credit dinged badly as a result of that (negative items stay on credit for 7 years). A lawyer could possibly provide documentation sufficient to allow you to contest the negatives on his reports, but it's a 50/50 proposition. I hate to see when nice people get burned like that.
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