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I will try to make this simple. In 2014 I got a divorce in NC. There was a martial home that I was the only person on the loan for my ex wife did not have any credit. At divorce I was told to sign the deed over to her and that she is responsible for making all house payments. My ex wife got behind and is now having NC foreclosure fund help her make the house payments.
My question is how do I get my name off the mortgage when she will not refi due to her not working. For if she gets work she looses her alimony.
I have to unload from this home for I am not able to buy another home due to being credited out. The home still has a balance of $190,000 owed on it.
I have heard of selling the note but not sure how that works, I would just like to sell the home. However she is still living in it and this state ran fund is making her payment on it so she is no longer behind.
Talk with your attorney. You signed your house over to your ex. You no longer own it. There should have been something about her having to refi within X days or selling the property to liquidate. You can't sell something you don't own.
My attorney is the one who told me to sign it. There was nothing in the divorce papers that stated she had to refi. But should I let my mortgage company know I no longer have the home? Even thou I am not on the deed isn't the home attached to the loan per say. And if I own the loan why can't I sell it?
Most loans have a "due on sale" clause. That means when the house is "sold" to someone else, the note becomes due immediately. The bank hasn't cared in your case because the payments continued to be made. However, if you call them and tell them you no longer own the house and the deed as been changed over only to your EX and explain that she's having issues making the payments, they are probably going to call the note due. She would either need to then finance it or sell it.
If it goes into foreclosure, even though you don't own the house, it would more than likely affect your credit scores poorly, so you need to do what you need to do. If you have kids in the house, you probably don't want to see them homeless. If there are no kids, all bets are off.
And you should definitely go back to your attorney and find out why there wasn't something in your divorce papers that protects you from this situation of her not making mortgage payments and it appearing on your credit.
I would rather not contact my attorney. For I live in Illinois and she lives in NC. So I had to get a NC attorney. Ex got the best attorney in the county and I lost everything and I mean everything, even things that were mine before our marriage everything. And the only thing stated in the divorce was I quote from the divorce decreed is " That the Plaintiff shall be the sole owner of the former marital residence located in Rowan county NC and the defendant shall sign a deed conveying his right, title, and interest to property conveying all of his rights, title and interest to the real property located at XXX Rowan County NC. The Plaintiff shall be responsible for payment of the mortgage, utilities and all upkeep on said former martial residence."
When she got behind she went through a state ran fund that helps with mortgage payments and got caught up. And to my knowledge they are still paying it for the loan is being paid on time she has never paid it on time even when we were married.
Can this be changed to were she has to refi because I can;t even get a car loan because according to the bank I am credited out.
I would rather not contact my attorney. For I live in Illinois and she lives in NC. So I had to get a NC attorney. Ex got the best attorney in the county and I lost everything and I mean everything, even things that were mine before our marriage everything. And the only thing stated in the divorce was I quote from the divorce decreed is " That the Plaintiff shall be the sole owner of the former marital residence located in Rowan county NC and the defendant shall sign a deed conveying his right, title, and interest to property conveying all of his rights, title and interest to the real property located at XXX Rowan County NC. The Plaintiff shall be responsible for payment of the mortgage, utilities and all upkeep on said former martial residence."
When she got behind she went through a state ran fund that helps with mortgage payments and got caught up. And to my knowledge they are still paying it for the loan is being paid on time she has never paid it on time even when we were married.
Can this be changed to were she has to refi because I can;t even get a car loan because according to the bank I am credited out.
You need to contact an attorney. I don't think you can sell because you don't own the home any more pursuant to the divorce decree.
I'm not an attorney, so you still need to talk with someone, but it says right there that you've given up all rights to the property. That means you cannot sell it. If I were you, and her being behind ruined my credit, I would do what I previously said which is contact the mortgage company and tell them you no longer own the home and they should move forward with the due on sale clause to remove you from the mortgage.
It's a little vindictive, but she already screwed you out of everything else, what's one win in your column going to do?
FYI, most banks will not intervene on a divorce ruling, nor will they exercise due on sale for a court ordered quit claim. I think you need to see a different attorney than the one that put you in this mess and I recommend you have a full (all three bureaus) credit report pulled, and see if whoever pulls it will give you a copy. Look through it with a fine-tooth comb. I also believe there's much more to this story for your attorney and the court to put you in this predicament.
Talk to a lawyer to see if you can deduct the mortgage amount from the alimony and send it to the bank directly.
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