Posted on 08/20/2014 6:12:51 AM PDT by SoFloFreeper
pal of mine got divorced and she got the house. after a few years she stopped making the payments. seems that due to her credit, the bank didn’t put the lien in her name only, and therefore went after HIM for the arrearage.
he eventually got HER to quit-claim and vacate, and now he owns it (and the mortgage).
when i got divorced, my bank took her name off of the mortgage as soon as i showed them the decree because my credit was fine.
but what do you do when the bank can’t or won’t take your name off the mortgage even if the judge awards the house to the spouse?
The lawyer adds Dwyane has no further responsibility, but it seems likely he signed the mortgage papers in the first place so, as they say, tell it to the bank.
I suspect he could care less about the hit to his credit rating. He apparently would prefer that over giving his ex any more than he already has. Looking at the picture I think he is probably justified. Since he was awarded custody of the children she most likely is a worthless POS.
I think they misspelled her name. I think it is Slovenly.
I doubt that is the case, as it is a 1.2 million dollar house with a 250,000 mortgage. No doubt he had the mortgage only to provide a tax write-off, as he could have paid cash for the house.
I suspect he is trying to get a judge to award him back the house then he will pay it off and sell it.
Care to translate the headline into English?
Yeah. I don’t think a diverse settlement removes you name from the mortgage. Takes a buyout from one party
And then they refi
Divorce
If the bank won’t cooperate, you join them as a party to the divorce action. Then they at least have yo make a decision to spend money or resolve the issue.
The house is hers, but the payments are still his? I might be tempted to default too!
I doubt that Dwayne Wade is personally writing checks for any of his bills. I would think he would have an accountant, or some such representative that handles these things. Or it could have been on autopay and he forgot to renew....
A 225K mortgage at 5% with a 30 year payout is only $1,207.80 per month. She should be able to pay that!
well, she is supposed to pay it but he is the backup
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