Signing mortgage papers

[Berner_Faith]

So not much info on this yet but the bf's stbx just called him and said it is time for her to renew the mortgage on the house, but apparently she needs his signature to finalize everything because she is consolidating some stuff... our gut reaction is heck no, she has yet to provide any information regarding the house to the lawyers, and in her financial statement she only filled it the "to date" price of the house. The lawyer has asked 3 times to have full disclosure of the house and all assets. The last request was sent on Nov 7th with no reply and a follow up letter sent on Jan 4th...still no reply.

What will happen if he doesn't sign these papers and she can't remortgage... are his kids out of a house? His worry is she is trying to hid somethings. She has felt since day one that he has no entitlement to the home... his name is not on the mortgage, however it was bought after they were married.

She is sending the papers tomorrow when I go pick up the daughter and expects them back Monday. Anyone know anything about how to deal with this?

[Exquizique]

Your bf's name is not on the mortgage? Did he contribute to the purchase of the house? Is your bf's name on the title of the house?

IMO, there's not much point speculating until you see the actual papers and find out what it's all about.

If i was your bf i would confirm to the stbx that he will be reviewing these so called "papers", and once reviewed, he will advise her accordingly. That way he's not committing to signing it off the bat (very unwise, committing to signing something that he doesn't know what it's about and just based on her words!) and allows him to properly look into what she is on about, as is his right.

[HammerDad]

Read the papers carefully. See if they reference any document not provided. If so, refuse to sign until the referenced document is provided.

Personally, I would not agree to encumber the matrimonial home. If she is looking to pay off other debt using equity in the home (a good likelihood) it isn't in his best interests to agree at this point. If she is just renewing the mortgage and there is no disbursement of funds, then there is little harm in signing.

Just read carefully and KEEP COPIES for your records. This way should she try and pull something by not providing you all the documents, you can refute this and move to have that portion set aside from her equalization.

[Berner_Faith]

As far as he was aware (and he will be the first to admit he didn't pay attention) his name is not on the mortgage, but he thinks its on the title. Even if its not, it is still considered a matrimonial home because it was bought after they married...he did contribute to the purchase, as well as he made the mortgage payments (when he lived there) and she paid the other bills. He put all new windows in the house to the tune of $20,000.

I guess the question right now would be what the heck is this for? Is she trying to consolidate everything to show that all there is, is debt? Currently there would be an equalization payment made to him from her, but she won't disclose the value of the house at date of separation.

[NBDad]

Sounds like either the mortgage terms are up for renewal OR she's trying to refinance.

If you sign, you lose all leverage to force her to settle up quickly.

I would take the papers, go discuss with the lawyers to determine exactly what she is attempting to do. (If it's the matrimonial home and she cannot buy him out, then the home should be sold, if she's remortgaged the equity, it's worth less and creates a bigger hassle).

If it's JUST the mortgage up for renewal, she likely cannot renew it without his signature. It's a HUGE incentive for her to settle, personally I'd stall it as long as possible.

[Exquizique]

Originally Posted by NBDad

If you sign, you lose all leverage to force her to settle up quickly.

[...]

If it's JUST the mortgage up for renewal, she likely cannot renew it without his signature. It's a HUGE incentive for her to settle, personally I'd stall it as long as possible.

I would suggest the same thing, once you find out what the papers are all about.

[Berner_Faith]

Thanks everyone... tomorrow when we receive the papers we are going to fax them to the lawyer...hopefully he will be available Monday to discuss them.

I agree that this is basically the last thing for leverage he has to make her settle, other than bringing the matter to court... the way I see it...you want something from him, you need to make it worth his while... he has waited 3 months for information pertaining to the mortgage and such on the house...

My initial response when he told me was to tell her to shove it and send it through the lawyers...I would assume since its something SHE wants, somehow she would be able to get in to see her lawyer (she told him last week that she had a meeting with her lawyer back in Nov, but since then has not been able to set up another appointment with her because she is too busy to see her...yet she refuses to email/fax the documents she needs to her lawyer)

[Berner_Faith]

So I was given the papers today from his ex for him to sign... she must think he is a fool...or I am a fool... She told him that she NEEDED to remortgage so she could consolidate some things in order to open up a RESP for the kids because she couldn't afford the payments she was making now...she told him verbally that we would not be held accountable for anything...however the papers state different...

Just a few things these papers stated...

All of the "terms" state I/We...which to me means when he signs he becomes part of the "we"

"I/we agree to be bound by the terms of this Mortgage, including this Mortgagor's Acknowledgement and Direction, the Standard charge terms and all schedules attached to it"

"I, Husband, the spouse of, Wife, one of the chargors named above, hereby consent to this transaction and authorize you or your agent to indicate my consent on all registered documents related thereto."

"4. Guarantee... Each person who agrees to this document as a guarantor guarantees the mortgage on the terms set out in part 13 of the General Terms"

So...to me this sounds like he would be on the hook should she default on any payments? He is no longer in the house, nor has he been for 2 years...if she can't acquire a mortgage on her own the house should be sold...

Earliest he can speak to his lawyer is Monday...if he is lucky...

Thoughts?

[standing on the sidelines]

kinda sounds like if he signs he is on the hook as either a mortgage holder or a co-signer. I would tread very carefully with this one.

[Berner_Faith]

That was my thinking too..she was wanting them back on Monday to finalize everything...but that will not be happening...he will have to find a way to word an email to her so she doesn't blow up...but that may be impossible...