She's already not paying mortgage

Your divorce and child custody agreements are final, get practical tips for moving on with your life after divorce.

She's already not paying mortgage

Unread postby Optimist630 » Tue Apr 11, 2017 4:56 pm

So, Ex got the house. I gave her one year to remove me at an agreed upon value. If she cannot refi, it goes on the market and proceeds are split. Sale is also triggered if she falls 60 days behind. She is already not far from that. The one thing I don't know is exactly what to do in either scenario. Any thoughts?
Optimist630
100+ Posts
 
Posts: 150
Joined: Fri Nov 25, 2016 4:27 am

Re: She's already not paying mortgage

Unread postby Mock Turtle » Tue Apr 11, 2017 8:36 pm

In that event, our decree stipulated that our attorneys would select a listing agent who would sell the house and reduce the price 2K each month until sold. Lots of other details.

Is your decree silent on those details?
γού καvνοτ βε ας ςτοοpid ας Ι αm ηνλεςς γού Ηαvε βεεη ας ςmαρτ ας Ι ψας.
User avatar
Mock Turtle
1K+ Posts
 
Posts: 1302
Joined: Fri Apr 05, 2013 2:13 pm
Location: Θε Fορτρεςς oβ Σολιτυδε

Re: She's already not paying mortgage

Unread postby Optimist630 » Tue Apr 11, 2017 11:08 pm

Yeah the wording is limited. So I don't know if her getting 60 days behind once means that's it or if she can then make a payment. An oversight on my part I suppose. Even worse is she is in the real estate business (title work) so I would be concerned about conflicts of interest. Given that she is already struggling, a very unlikely refi situation seems even more grim. I just don't know if I need to file a motion or if by not listing, she is violating a court order (if this indeed happens). Plus if she is behind, clearlg it shouldn't then be an even split as that would mean I was making up for her non-payments.

This lack of attention to detail may result in hiring a lawyer again at some point.
Optimist630
100+ Posts
 
Posts: 150
Joined: Fri Nov 25, 2016 4:27 am

Re: She's already not paying mortgage

Unread postby Mock Turtle » Wed Apr 12, 2017 2:37 am

Does your decree stipulate that she is responsible for selling the house?
γού καvνοτ βε ας ςτοοpid ας Ι αm ηνλεςς γού Ηαvε βεεη ας ςmαρτ ας Ι ψας.
User avatar
Mock Turtle
1K+ Posts
 
Posts: 1302
Joined: Fri Apr 05, 2013 2:13 pm
Location: Θε Fορτρεςς oβ Σολιτυδε

Re: She's already not paying mortgage

Unread postby Optimist630 » Wed Apr 12, 2017 10:06 am

Nothing is mentioned as far as who does what. It says the house is hers and it needs to be sold so connect the dots I would think.

She is all about appearances and valued staying in the home far more than time with our child so I had to play that card. Came up with a reasonable number in case she could refinance, one that is pretty safely close to what I would end up with if it was sold. Maybe even a bit more. I want her to refinance because I know she doesn't take care of anything so I will probably end up paying a price if it needs to be sold. But she would have to get approved for over four times her salary.
Optimist630
100+ Posts
 
Posts: 150
Joined: Fri Nov 25, 2016 4:27 am

Re: She's already not paying mortgage

Unread postby steelmark » Wed Apr 12, 2017 11:09 am

Optimist630 wrote:This lack of attention to detail may result in hiring a lawyer again at some point.


That could be the least of your problems.

This group blanket recommends you don't enter into entanglements like this for a reason.

She can kick this can down the road for months or years. Even with air tight contingencies and "what if" processes in the decree (which you don't have), your ex can stall this sale while destroying your credit if you are still on the note. She could trash the place too, not make repairs, on and on.

If she plays ball with those loose guidelines in your decree, you'll be really fortunate.

I was in your ex's position. I didn't screw around and followed the terms I agreed to, but in the back of my mind I wasn't too worried if the sale took longer than expected, I could have easily extended my stay.

I hope she plays ball.
Prepare and execute to win by a thousand miles, just to be in position to win by an inch.
User avatar
steelmark
1K+ Posts
 
Posts: 1765
Joined: Wed Sep 11, 2013 10:01 am

Re: She's already not paying mortgage

Unread postby TOC » Wed Apr 12, 2017 12:22 pm

I had the same problem with my divorce four years ago. The decree stated my ex could keep the house and if after a year she couldn't refi under her own name, I could decide to make her sell.

What I did was a little different...I actually filed for bankruptcy (Chap. 7) and included the mortgage which was later discharged, relieving me of having anything to do with it. This was also a strategy since the house was not worth what we owed so if I made her sell, it would have been more money out of pocket, a short sale, or a foreclosure.

I had also inherited a ton of debt from my ex which made bankruptcy all the more attractive.

It's been two years since it was discharged and my credit is already back up over 700. So while it's an unfortunate black mark on my credit for a while, getting out of the entanglement and free from the debt I inherited was well worth it.

This probably isn't desirable to most, but in the right circumstance it could be an option.
TOC
100+ Posts
 
Posts: 241
Joined: Fri Feb 20, 2015 11:12 am

Re: She's already not paying mortgage

Unread postby Tom Kirkpatrick » Wed Apr 12, 2017 12:43 pm

Optimist630 wrote:If she cannot refi, it goes on the market and proceeds are split. Sale is also triggered if she falls 60 days behind.
You knew this day would come sooner, rather than later.

Q: When is Day 60??

On Day 61, put it on the market.

She needs to move out.

Tom
Everyone is entitled to my opinion. - Maxine™
Tom Kirkpatrick
5K+ Posts
 
Posts: 7682
Joined: Thu Mar 03, 2005 11:31 pm
Location: Pacific NW

Re: She's already not paying mortgage

Unread postby Tom Kirkpatrick » Wed Apr 12, 2017 12:46 pm

Mock Turtle wrote:Lots of other details.
Since lotsa dads go thru this, could you tell us what those aforementioned "details" are??

Thanx, Bro.

Tom
Everyone is entitled to my opinion. - Maxine™
Tom Kirkpatrick
5K+ Posts
 
Posts: 7682
Joined: Thu Mar 03, 2005 11:31 pm
Location: Pacific NW

Re: She's already not paying mortgage

Unread postby iamthedad » Wed Apr 12, 2017 3:28 pm

We had my NJ paying the mortgage in the temp agreement, which she paid late. Every month. For nearly a year. And then, when we actually got divorced and determined the parenting plan (with custody eval) my wonderful attny didn't have the language moved into the 'final' decree.

NJ stopped paying and lived in the home rent free for several months more. I stayed in contact with the bank and proactively called THEM from time to time and it bought me a few more months I think.

By the grace of whatever you worship, I was able to sell the house the very month the bank had finally had enough. My credit went from 700+ to low 600s as a result, and there was not one single thing I could do about it. We did get her for all the fees and such which we took from her half of the equity once we sold, but it was hardly any real consolation.
iamthedad
100+ Posts
 
Posts: 352
Joined: Thu Jan 15, 2015 5:04 pm

Next

Return to After The Divorce is Final – Moving On

Who is online

Users browsing this forum: Bobby5000, Moz Roger [Crawler] and 3 guests