what to do now?

[momof 3C's]

I have a new mortgage for the mat home to buy my ex out.He is fighting me on the back taxes(2 years not paid prior to him leaving) and I do not want to lose my new mortgage with the delays.Is there a way to force the issue as the mediator is away until October?I am being told to stop paying the existing joint mortgage by friends to get his attention.The back taxes keep rising with interest and I just want this done and over.He has moved on and I want the agreement signed and the house in my name so I can make the needed repairs(leaking roof).My new mortgage amount will only cover my half of the back taxes and the money is not there for me to pay the whole amount then fight to get half back. Any ideas?

[standing on the sidelines]

I would not stop paying the existing mortgage because it will also get the banks attention and they may withdraw their offer of the mortgage. Can you not just get a larger amount for the mortgage and pay off the back taxes or borrow from family??

[dadtotheend]

You're going to eat his half for now and recover via equalization of family property. Presumably you have included those back taxes in your NFP.

It's odd that the bank is refnancing the property and not making it a condition of the loan that the taxes be paid out of the refinancing proceeds.

[standing on the sidelines]

Originally Posted by dadtotheend

It's odd that the bank is refnancing the property and not making it a condition of the loan that the taxes be paid out of the refinancing proceeds.

never thought of that, normally they like stuff like that cleared up so there will be no leins put against the property.

[momof 3C's]

The existing bank is not refinancing. I have found financing elsewhere. It is stated in the agreement that he will pay his half and I will pay my half of the taxes and associated fees. The new finance company will not increase the funds for the back taxes due to the agreement stating he is paying half. They are sticking to the agreement.I am waiting to hear back from my lawyer.He wanted out and now lives with his girlfriend, I don't understand why he keeps delaying things.

[standing on the sidelines]

Originally Posted by momof 3C's

The existing bank is not refinancing. I have found financing elsewhere. It is stated in the agreement that he will pay his half and I will pay my half of the taxes and associated fees. The new finance company will not increase the funds for the back taxes due to the agreement stating he is paying half. They are sticking to the agreement.I am waiting to hear back from my lawyer.He wanted out and now lives with his girlfriend, I don't understand why he keeps delaying things.

but you see the new bank will probably run your credit report again before lending the money to you (at least that is what TD did to us) and then if it shows up on your credit report of the missed mortgage payments they can withdraw the offer of the mortgage due to that.

You are going to either take him to small claims court for the money if that is an option or eat it for right now. With the ageement not signed you probably have very limited options,

[rwm1273]

If you end up paying out his share of the taxes just to get the mortgage, then you got your house and have your lawyer hold back that amount from the transfer of the remainder to him. The agreement sounds to have been breached by him for not paying his share of the taxes, unless he planned to pay for that from his payout from you? Either way he gets the same amount of money.

[momof 3C's]

Even with me keeping the house he still owes me money. His assets greatly out weigh mine.If I keep the house he owes me much less in the end.I have a conference call with my lawyer today to see what she suggests I do.

[rwm1273]

If he has more matrimonial assets left over, then you need to pay him less for his share of the home. It is all a trade off from the matrimonial assets and offset by the debts.