[expat2]

Nothing to see here, seriesly. ;>)
In the divorce, she got the house and the payments on the mortgage. It's no longer his house, he's off the hook, she can't afford the payments so it's time for foreclosure.

[ken5050]

I believe that's only true IF the bank issued him a release on the mortgage..They can legally go after him for any shortfall, but since there is so much equity in the house that won't ever happen. Which is why his divorce lawyer probably never made an issue of it..

What should have happened..given that he gave her such a huge cash settlement..was that it be reduced by the amount of the mortgage debt at the time..and the mortgage paid off..

Slightly sloppy lawyering, IMHO

[lacrew]

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.