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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 06-28-2017, 12:53 PM
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Default Ex Walking away from matrimonial home obligations

Ex and I are both equal owners in our matrimonial home.
Ex has lived in the house since separation 2012
Mortgage was paid through the spousal support payment I was ordered to pay in 2013
At our Trial the judge ordered spousal support payments be tapered off and end July 2017.
The Judge ordered the house be listed by March 2017.
The judge ordered that the ex was responsible for mortgage payments.
The home is currently on the market.
Ex has informed me that she and our children are moving out of the matrimonial home and in with her bf.
Ex has informed me if the house doesn’t sell by July 1, 2017 (3 days from now) she will no longer pay the mortgage and will let it go into foreclosure if that is what has to happen.
Other than letting it go to foreclosure or taking over the payments do I have any other options?
Does her walking away July 1st give me I have an opportunity to own it 100% somehow?
Thoughts? Advice? Ideas?
Thanks...

Last edited by dad1414; 06-28-2017 at 01:02 PM. Reason: forgot something
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Old 06-28-2017, 01:01 PM
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***I currently rent a house and can not at this time afford the added mortgage payment and other home expenses.
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Old 06-28-2017, 01:02 PM
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I'd dump the price and get rid of the home. If your ex disagrees then get a court order to drop price.

You can own 100% of the home if you buy her out.
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Old 06-28-2017, 02:35 PM
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If the mortgage was paid through spousal support, does that mean you gave her SS and she paid the mortgage with it? Or did you pay the mortgage direct. It doesn't really relate to your question, just curious.

Her walking away from it does not mean you get ownership.

Reduce the price of the house. Talk to the bank. They don't immediately foreclose for missed payments. Slit the cost of the missed payments when the house sells.

If you both walk away from it, it will foreclose and both of your credit ratings will be affected.

Is there any equity in the home at all?
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Old 06-28-2017, 04:30 PM
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Thanks for the reply.

Yes I paid SS and the money went to the mortgage.

There is $300,000 in equity.
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Old 06-28-2017, 05:21 PM
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So you may owe her for your portion of mortgage payment? (I hope not).

Did you pay the bank or did you pay her directly? What is in your separation agreement? She may simply say that you paid her $$$ for SS and she paid her 1/2 of the mortgage payment. Of course there is the occupational rent factor to be considered.

I would keep equalization separate from SS. You are in Ontario and she would be entitled to 50% of the home equity, whatever that was, at the time of separation? Would another calculation not then be made when the house sells to calculate, less occupational rent, real estate & legal fees, her portion of equity in home?
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Old 06-28-2017, 05:32 PM
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Ugh, this is why divorcing/separating people should always cut all the financial ties ASAP.

I would suggest that you do what you can to carry the house yourself after she stops paying, and subtract your additional costs (half the mortgage plus expenses) for doing so from her half of the sale price. Hopefully it will sell quickly. Talk to your mortgage provider to see if they can help; a lot of mortgage places will let you skip a payment.
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