I wouldn’t say he’s completely off the hook. I think its immoral when judges do this. They ‘give the house’ to the one spouse, even though both spouses have their names on the loan.
The judge should order that either the one spouse applies for his/her own mortgage...and if that is not possible, liquidate the house and split any proceeds.
Anyway, Wade’s name is apparently still on the note...so this hurts his reputation, credit score. And, if he were underwater on it, he may be liable for the difference after the sale....including being liable for penalties and late fees racket up by his ex-wife.
Myself, I would do exactly what Wade is doing - which is pay nothing that might prolong this problem. So I don’t disagree with that approach - but he will be impacted in the end.
yep, like he said
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.