I am grateful for your expertize...and kindness.
I am 70 yr. old, divorced after a 50 yr. relationship. My former husband asked for both houses in the settlement and I deeded them to him. I was not aware that my name would remain on the mortgage of the said house. It was purchased 'interest only.' He has not paid the mortgage for maybe 9 months now. He has already received a letter saying the bank will give him money to move out and give the house back to them.
I have multiple medical issues...much of my meager income goes for living expenses...rent, medical ins/bills. In case the bank would come after me I did not purchase a home after the divorce. I am renting, I have a 14 yr. old car and i rolled over all of my 50% of the financial retirement funds for investment. I don't know if the bank could take any of that.
It does appear that my lawyer missed the boat when she did not require him to immediately refinance and get my name taken off the mortgage...I was unaware of that. At this point I would just like to get out of this and get out of the ties to a person that is not a part of my life now. Do I have any say in how this is handled? Since the house was deeded to him... would I have any right to half of any buy out the bank might offer him to take leave of the house? The second house he received in the divorce settlement is paid for and protected from the foreclosure as far as I know. Anna...
I apologize: I was referring to my divorce lawyer at the time of the divorce...which I am no longer in touch with.
Thank you, XXXXX XXXXX understand .. Anna
thank you so much...this helps me make a few decisions w a lawyer to help me. I would like to leave a bonus after this reply.
Yes. If the bank does come after me re: the foreclosure...would they be able to take any of my assets that I received 50%(divorce settlement) of all retirement account, IRA accounts that I rolled over to Fidelity Investment?
I also an IRA in stock not in the same company.
Is that safe? I have no credit card debt as I pay it each month.
Also, if my former spouse takes the small pay out and gives the house back...will my name come off the mortgage too...and I will no longer be liable for it?
I cannot thank you enough for your expert help...I will be able to understand what is going on now...I had no idea what I am dealing with. You have a gift of explaining legal matters so I could understand. I wish you God's best. Chaplain Anna
thank you for this counsel... which leads me to ask you...
A friend who went through this situation suggested asking
the lawyer that will take my case to
have a MOTION FOR CLARIFICATION that can have the COURT force him to take the offer....thus, ending my liability for that house.
Do you have any thoughts on this?
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