[lilyka]

I have recently divorced and I have either 18 months or 30 months (I am 6 months into it) to get my xh name off the mortgage. so I did all that crap, piled my paperwork, shopped for a good loan, everything was done except the appraisal. . . a mere formality and then I would sign the papers. not only would my payments go down, all my debt would be rolled into the payments and my house wold be paid off 10 years early. yeehaw . . .

:

dang appraisals came back 30 thousand less than I needed. 15 thousand less than I paid for it 8 years ago (frick! we have put AT LEAST that much into it). but almost every house in this neighborhood that has sold has been foreclosed on which kills property values. it doesn't matter how good my house is. unless I hook it up to my car and drag it out of the hood it will only be worth so much.

so that means i have however many months to get xh name off loan and deed. quit claim deed won't do it, because his name would still be attached to the loan which is driving him crazy. So my options in a normal life would be to live here until I am a ripe old age in which case falling property rates don't hurt me because meh, my taxes will just go down. however I cannot just carry on making my payments happy as I go. . . . I have to get his name off that loan (not that he has taken my name off any loans that he legally needs to) so my options then are to try refinancing again (not likely because my home has little value), sell or foreclose. ok I doubt I can refinance. selling, did I mention my house appraised for less than I owe. eeee yeah. that sounds like it would suck something fierce. not to mention I can make house payment on two places. noooooo. my credit is fragile. one more burden and I will financially tank. it would crash my credit and I would have to file bankruptcy anyway. which leaves me with foreclosure. bad credit but at least I won't be making two payments. and i would be free of financial ties to my ex. and it would all be over. he would be pissed though cause it would tank his credit too (not that I am concerned about that so much, affairs cost a lot).

are there options I am missing? if these were your choices what would you do? any insights would be appreciated. i feel like I am being forced out of my house.

i love this house. i can afford this house. I hate change. but i only have so long to get xh name off the loan . . . .

 

[Denvergirlie]

Stay the same course for the few motnhs, try again early next year. You state you have 18 or 30 months to make this change... why the two different numbers?

If you wait 9 (18 mos - 6 mo = 3 mo grace before the 18 months are up) months something might change.
If you have wait 18 months, it would even be better (30 mos - 6 mo = 6 mo grace before 30 months are up).

You/ economy might be in a better place to get a better apprasial before making any drastic changes.

The 18 or 30 months.... that was in the divorce decree? They really don't have much weight, the creditors don't care, your ex could take you to court for not holding up your end of the the agreement, but really not much a judge can do if you don't follow thru.

 

[Selesai]

I'm not sure if your income has also changed-- have you made sure that the Obama plan can't help you?

 

[lilyka]

Quote:

Originally Posted by Denvergirlie Stay the same course for the few motnhs, try again early next year. You state you have 18 or 30 months to make this change... why the two different numbers?

because I was too lazy to drag out my divorce papers and look. it is either a year and a half or 2 and a half. he wanted to give me six months!!!

Quote:

The 18 or 30 months.... that was in the divorce decree? They really don't have much weight, the creditors don't care, your ex could take you to court for not holding up your end of the the agreement, but really not much a judge can do if you don't follow thru.

yes me refinancing was in the decree. he could take me to court (so long as he has met all his obligations which he hasn't, none of them actually which is one of the reasons I am having issues refinancing) but what could they really do? I am more than happy to just stay here forever (or until I can get a reasonable price). that is really in both of our best interest but if I am forced out i think I would rather foreclose than sell for less than my mortgage. can they force me to do that? if I foreclose though it would hurt xh far more than it hurts me. i plan on being debt free within 4 years and living credit free. i would be perfectly happy to rent and I am already living in a bad neighborhood. i got nothing to lose. . .

can you tell me more about the Obama plan? like I said, I am not trying to reduce my payments (not that it wouldn't be swell!) but really all I want is xh name off the loan. that would fulfill my legal obligations.

 

[SeekingJoy]

What if you didn't roll your other debts into the mortgage? What would the gap be then?

 

[Smithie]

"he could take me to court (so long as he has met all his obligations which he hasn't, none of them actually which is one of the reasons I am having issues refinancing)..."

I think you're probably right not to be too freaked out about him doing all his things and then taking you to court, but if he gets angry enough, will he start paying the support late? 'cause it's clear from the other thread that that would totally screw you up... and obviously, if you are open to growing old in this house, then getting him off the deed so it's totally yours is a good notion anyhow.

I think you need to talk to somebody about how the federal bailout can help you. The goal here is a refi to change the deed, and paying a smaller monthly payment would certainly be awesome, but the main thing is that you need somebody who knows what they are doing to make the refi happen.