Divorce or separation can lead to negative consequences if two of you had personal issues. One of the most commonly faced situations is when your ex-spouse stops paying for the mortgage.
The default on the mortgage payments from your ex can result in foreclosure. And that can also equally affect the credit score of both of you.
As a result of that, you start wondering, “Can I sue my ex for not paying the mortgage?” After all, you know that your ex has stopped paying the mortgage. So what would you do? Can you sue your ex after they have stopped paying the mortgage?
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Here’s the answer
The short answer is that yes, you can sue your ex for not paying the mortgage. But the long answer is that you should look at the big picture. If the divorce agreement doesn’t require your ex for the payments, then it’s not on them.
However, if the ex had the obligation to continue the payment, then you can sue them. And in other cases, you can seek consultation from your past attorney.
They would, in turn, issue the enforcement on the loan agreement requiring the payments from ex. Besides, being the joint signer for the mortgage can also have negative consequences. And the bank can issue the foreclosure on the property, resulting in you both getting a low credit score.
So how should you deal with it?
The best and proper way of dealing with this is through legal proceedings. And that is by seeking assistance from your local attorney or family law attorney.
They would evaluate the situation properly, proceeding with the right legal way of reviewing the case. The necessary documents including the divorce decree can help the attorney to help you better.
What happens if one partner stops paying the mortgage?
Your ex-credit partner’s rating will be severely impacted if you refuse to pay the mortgage. In the long run, it will be more difficult for you to get a mortgage or any other form of credit because you will both be in arrears.
What happens if my ex refuses to pay the mortgage?
A late fee would be added to the next bill if your partner missed just one payment. Any late or missed payments and any fees will be added to your total debt if your cosigner decides to go through with the loan modification. It is possible for him/her to sell the property for less money than they owe.
Can I sue my ex husband for not paying the mortgage?
If your situation is unique, the court may be able to order the sale of the property to pay off the mortgage, but if your ex is still living there, this is unlikely. A new lawsuit can be filed if the divorce court is unable to assist you in resolving your issues.
Can I make my ex pay half the mortgage?
You and your ex will both be liable to the mortgage lender, and if the mortgage is defaulted on, the mortgage lender will come after both of you for the balance of the mortgage and any costs associated with it.
Do I legally have to pay half the mortgage?
Legally, your ex is obligated to pay half of the mortgage if they are named on the agreement with the lender. You can take action if your ex refuses to pay you. Sending a letter to your ex is one way to get what you want. The court can order spousal support if your ex-spouse refuses.
Does my ex have to pay half the mortgage and child support?
It really does not matter if you are married to the child’s parent if the family home is owned by the parent. Your ex-spouse may seek spousal maintenance if child support does not cover the mortgage and other household expenses.
Can I force my ex to take my name off the mortgage?
A quitclaim deed, in which your ex–spouse relinquishes all ownership rights to the property, is the most common method of accomplishing this. The quitclaim deed should be signed in the presence of a notary public by your ex-spouse. You should turn in this document to the county after it has been notarized. Removes the name of the ex-partner from the property’s deed and the mortgage in public.
Does it matter who pays the mortgage?
If both of your names are listed on the mortgage, you are both legally obligated to pay the monthly bill. Even if you and your spouse have separated, you must still pay your mortgage on time. If you don’t pay on time, the late payments will hurt both your credit scores.
What happens if you have a joint mortgage and split up?
Having a joint mortgage with someone means that you both own the property equally. Thus, if you and your spouse decide to separate, you each have the legal right to continue living in the house. It also means that you share in the burden of making the mortgage payments.
Can I walk away from a mortgage?
Among the most common ways to avoid a mortgage are a short sale, a voluntary foreclosure, and a forced foreclosure. Basically, a short sale occurs when the borrower sells a property for less than the amount owed on the mortgage.
How do I remove my ex-partner from deeds?
Sole mortgagor status must be inquired of a mortgage lender if your partner is selling the house and you are buying it out of him or her. A written consent from your mortgage lender is required to remove the other party from the deeds of your home.
Is my ex entitled to half the equity?
Couples can come to an agreement on how to divide the equity once the amount of equity is known. To divide a post-marriage mortgage 50/50 is common if both spouses worked and contributed equally during the marriage.
How do I get my ex husband’s name off my mortgage?
You can only remove your spouse’s name from the mortgage by applying for a loan to refinance the mortgage in your name only. Assuming that the original mortgage was approved in both of your names, the lender would have two sources of repayment to work with.
Does child maintenance count towards mortgage?
Divorced people may find it difficult to get a mortgage because lenders differ on how much income they will accept from child support payments. Some lenders will only accept half of a borrower’s income from child support payments, while others will refuse to accept it as income at all.
How can I get out of my mortgage without penalty?
An open mortgage actually gives you the freedom to adjust your payments, pay off your loan, or switch to another term whenever you want — all without incurring any additional fees (admin fees may apply). Higher mortgage rates are the price to pay for this.
Can a joint mortgage be transferred to one person?
That is certainly a possibility. If you and also your spouse have a joint mortgage and are divorcing or separating, this guide will explain your options for transferring the mortgage to the other spouse. If both people who are named on the joint mortgage agree, a joint mortgage can be transferred to one person’s name.
What does it mean to be on the deed but not the mortgage?
This means that if your name appears on the deed but not the mortgage, you are a legal owner of the property but are not liable for the mortgage loan and its repayments. Although only one spouse is on the mortgage, the lender can foreclose on the property if you default on your payments.
Does my husband have to pay the mortgage if we divorce?
Even if a divorce decree states otherwise, both spouses are legally obligated to pay the creditor if both their names appear on the loan agreement. In other words, even if you and the court agree that your ex should assume responsibility for making the mortgage payments, the creditor has the right to sue you for the unpaid debt.
What rights do I have on a joint mortgage?
If you and your partner have a joint mortgage, you each own a portion of the property together. This means that even if you and your spouse decide to part ways, you each have the legal right to remain in the house. But if one of you decides to move out, you’ll both be responsible for your share of the mortgage payment.
What are my rights as a joint homeowner?
When two people are joint tenants, each person owns the property in full and has equal rights to it. The property will be transferred to the surviving owner if one of the owners dies. In your will, you cannot leave the property to anyone else.
Do I have to sell my house if I split with my partner?
If one of you can afford to buy the other out or take on the mortgage payments, you don’t have to sell the house. Depending on the outcome of your case, the courts may order you to take another course of action.
How long can I not pay my mortgage?
Forbearance periods of up to 180 days are available to borrowers with federally guaranteed loans, allowing them to delay or reduce their monthly mortgage payments for a period of up to six months. You can also request an additional 180 days of forbearance, bringing your total to 360 days of forbearance.
What happens if I don’t pay my house payment?
In most cases, the foreclosure process will begin within three months of a missed payment. The county recorder’s office will receive a “notice of default” from your lender. Depending on who is actually in charge of servicing your loan, this could last anywhere from 30 to 120 days.
How long does it take a bank to repossess a house?
In most cases, the process of foreclosure is started after the debtor has missed three or more months of payments. If a bond is overdue by more than 20 days, a letter of demand can be sent.
