If they are not listed on the mortgage, then they have no legal obligation to pay the debt. If payments are not made it is only your credit that will be damaged.
the one that stays behind.Not the one that moves out
That will be decided by the judge or your attorneys.
Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.Divorce agreements are not binding on lenders. If your husband doesn't pay that mortgage the lender will come after you for payment. At the time of the divorce the mortgage should have been refinanced and paid off in return for your interest in the property. Your credit record will show that outstanding mortgage under your name until it is paid off. You should contact the attorney who represented you at the time of the divorce to see if the matter can be resolved now.
If your name is not on the mortgage you are not legally liable for the loan as far as the bank is concerned. You could become liable through a divorce if it has been your home for you and your spouse.
The answer is who is on the mortgage or deed of trust contract not who has title to the property. All parties on the mortgage are equally obligated for the mortgage payments irrespective whether or not they are in title to the property. A mortgage or deed of trust is a contract and the parties thereto are bound by the terms of the contract.Another PerspectiveIn addition, The lender will foreclose if the mortgage isn't paid. You have not stated who signed the mortgage and that is important to your question. If the husband is paying the mortgage and is not on the title he is paying for property he doesn't own. If he signed the mortgage then his credit record is at risk if the mortgage isn't paid. This matter will need to be addressed at some point by a court, perhaps divorce court, since the owner has abandoned the premises. You need to consult with an attorney.
Filing for Chapter 7 bankruptcy will discharge your personal obligation to pay the mortgage, but it does not remove the lien on the property. Therefore, the mortgage lender can still foreclose on the home if the mortgage payments are not made. In a divorce, the issue of who is responsible for the mortgage payments would typically be addressed in the divorce settlement or court order.
That issue should have been addressed in writing in your Separation Agreement when you were divorced. You need to review it and the decree. All financial matters between the parties should be addressed in that agreement. If the mortgage wasn't addressed then you are each equally responsible for payments. If the payments aren't made and the loan goes into default the bank will foreclose and take possession of the property. That means if your ex-spouse isn't helping with the payments the responsibility to make the full payments falls on you or you will lose the house. You should call the attorney who represented you in the divorce and ask them what to do.
Your question is _________?
You haven't provided enough detail. If they are on the loan documents with you, they are equally responsible for paying the mortgage. This situation should have been addressed in the divorce agreement. You should contact the attorney who represented you in the divorce who can review your situation and explain your options, if any. If you were not married, you cannot "make" your ex-partner pay. If the mortgage payments are not paid the lender will foreclose, take possession of the property by foreclosure and both your credit records will be ruined.
There is no specific time a person must be separated before they can file divorce in Tennessee. A divorce can take up to 3 months or longer in the state.
No, you cannot. The bank is under no obligation to abide by your divorce decree. This s a problem caused by poor legal representation at the time of the divorce. Your attorney should have addressed this issue as part of the negotiations. If one spouse agrees to or is ordered to convey their interest in the marital property to the other spouse, and the property is subject to a mortgage, there must be further provisions regarding the mortgage. The spouse who will receive the interest of the other spouse must be required to refinance the mortgage in their sole name within a relatively short period, say 60 days. That way, the refinance will become a court order and the spouse who is to convey their interest will be free from the mortgage.If this was not done in your case then you should contact the attorney who represented you in your divorce and ask why. That's what you paid for when you hired the attorney to represent your interests in the divorce. Ask that attorney to review your present situation and determine what your options are. As long as the original mortgage that you signed remains unpaid you remain completely responsible (to the bank) for paying it if your ex-spouse fails to make payments. Any default will ruin your credit.One final point: No one can change the terms of a mortgage loan and note, they are legally binding contracts. However, you should also contact your mortgage company and ask them if a name can be removed from the mortgage if your name is no longer on the deed.
Yes. The best thing would be to either get the house in the divorce, or get everything, including the mortgage, signed over to your soon to be ex.
Yes.
No, a person whose name is on the DEED may become the sole owner. The person whose name is on the MORTGAGE may have the priviledge of making the payments! Better contact the lawyer who handled your divorce for some advice.
Generally, women get the house in a divorce because they will have physical custody of the children and the court tries to cause the least disruption in the child's life. Generally, provisions are made for the home to be sold when the child reaches eighteen or the woman takes over the mortgage payments and refinances the mortgage in her own name. Also, generally, women are still considered to be at a financial disadvantage in their ability to acquire future assets.
That will be decided by the judge or your attorneys.
the one that stays behind.Not the one that moves out