Late Mortgage payments by ex! Credit dropped 51 points!!

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Late Mortgage payments by ex! Credit dropped 51 points!!

Postby stkbroker8500 » Fri Nov 18, 2011 3:42 pm

My divorce was in Wisconsin 2 year ago. I quit claimed the home to her, as the home value was less than what we owed (I know I'm not alone!). This year alone, she was late on the payments 8 months out of 11! I checked my credit score, and it dropped 51 points since the last time I looked! I don't owe anything, but I don't have much either, and certainly not any debt, as I paid my debts when we got divorced. Is there any way, legally, that I can get my name off that mortgage? She can't get a mortgage on her own, and I still have 2 kids living there. Will she have to sell? I have followed through on everything i had to do, and bit the bullet, and made hard decisions. Now I'm trying to build myself back up. Help!
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Re: Late Mortgage payments by ex! Credit dropped 51 points!!

Postby Anything4Her » Fri Nov 18, 2011 4:19 pm

Here is a lesson to all other Dads. Never quit claim a property while your name is still on the mortgage. You have the liability and responsibility for the debt with no control or claim on the asset.

stkbroker8500 wrote:Is there any way, legally, that I can get my name off that mortgage?

No. The only way to get your name off the mortgage is to pay it off. A refinance would accomplish that.
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Re: Late Mortgage payments by ex! Credit dropped 51 points!!

Postby stkbroker8500 » Fri Nov 18, 2011 4:48 pm

What if she's doing this on purpose...to ruin my credit. Is there a judge who will force a sale, because I just don't believe that I should be on the mortgage, as I have no interest in it. I'm willing to pay an attorney if it's possible to get this done. I'm remarried now, and my new wife's credit is impeccable, so it's not as if I need credit. I just want this cleared up and no ties at all. don't wish her ill...just that my life is not influenced by what she does wrong.
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Re: Late Mortgage payments by ex! Credit dropped 51 points!!

Postby Fatheroffour » Fri Nov 18, 2011 5:07 pm

I'm sorry. You're in a bad spot.

Hopefully she'll get foreclosed on and end the pain.
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Re: Late Mortgage payments by ex! Credit dropped 51 points!!

Postby Bubba Seal » Fri Nov 18, 2011 5:39 pm

Thats a tough one, no I dont think there is anything you can do on this.

Buy her out and sell it yourself maybe, but other than that I cant think of anything.

Good Luck
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Re: Late Mortgage payments by ex! Credit dropped 51 points!!

Postby anonymous guest » Mon Nov 21, 2011 2:15 pm

What does your decree say in regards to the home/mortgage?
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