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Ely
Ely, Counselor at Law
Category: Family Law
Satisfied Customers: 101572
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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We Live in Florida. What happens if both parties refuse to

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We Live in Florida. What happens if both parties refuse to live in the house? The loan is in my name but I want to leave the city after the bitter split. She has invested more $ in the house and I want her to keep it. But we cannot come to terms and the divorce my take a year or more. I have told her she can live in the house and make the payments until it is settled in court. But if she refuses to live there and to pay the mortgage can I move out and let the house go into default or turn it over to the bank as abandoned?
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

I am sorry for your situation. Can you please tell me whose names are XXXXX XXXXX deed - just hers, just yours, or both of your names?

This is not an answer, but an Information Request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.
Customer: replied 3 years ago.


Just mine


 

E,

Thank you for your reply. In fact, I see that you had stated this in your original question and I am sorry! One more question, please. Was the home purchase before or after marriage? I am guessing before, but I need to confirm this.
Customer: replied 3 years ago.

After

Thank you, E.

I am surprised that the mortgage company did not ask both of you to be on the mortgage, in this case. But anyhow, if they did not, then they did not.

On this website, I do not always get to give good news, and I am afraid that this is one of these times.

OVERVIEW
Now, because the mortgage is in your name only, then she is not liable for the mortgage. As such, if you (and she) stops making payments, whether or not you live in the home or not, the lender will (1) foreclose on the home and (2) sell it at auction, often being the highest bidder themselves.

Then, the lender may go after you for the deficiency which is the difference between what was owed on the mortgage and what the property sold for at auction.

If you simply abandon the property, it will be foreclosed upon once the lender realizes you had done so and have no intention of making payments.

So you can do this if you want to, but foreclosure hurts your credit and the lender may pursue you for deficiency in Court, which is always a risk.

DIVORCE
Alternatively, if the two of you file for divorce, if she wants the home (and it seems that she does not), but if she did, the Court can give it to her, but would also ask her to refinance into her name.

I hope this helps and clarifies. Good luck.

Surely you prefer that I be honest in my answer – please remember that rating negatively due to receiving bad news still hurts the expert – it is simply the way that the system is set up. Please use REPLY button to keep chatting, or RATE my answer when we are finished. (You may always ask follow ups free after rating.)
Customer: replied 3 years ago.

She wants the house. We have $60K -$80k equity. She put in $40K cash in remodeling I did all the work myself (used to be a contactor). But she would refuse to live there now just to keep me in the city to torment me. Even at auction there would be some extra cash. I just wanted to know if I had to power to walk away. I offered to take 25K she said she should get everything because she put up all the money. I do not know if she would be willing to lose all of her cash if I can leagaly walk away. I just want to force her to live there and let the judge decide what is fair. And allow me to be free from a toxic enviorment

E,

Thank you for your reply.

I just wanted to know if I had to power to walk away.

You do, yes, but the lender may pursue you for the deficiency... may - there is no guarantee - it is their choice.

I just want to force her to live there and let the judge decide what is fair. And allow me to be free from a toxic enviorment

You cannot force her to live there, I am afraid, but she can voluntarily agree to take over and re-fi as part of the divorce.

Please note: I aim to give you genuine information and not necessarily to tell you only what you wish to hear. Please, rate me on the quality of my information and do not punish me for my honesty. I understand that hearing things less than optimal is not easy, and I empathize.

Gentle Reminder: Please use the REPLY button to keep chatting, or RATE and submit your rating when we are finished.
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