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  • Mortgage renewal

    Hello everyone,

    I just wanted to ask for some advice.

    I found out from my ex the mortgage on the matrimonial home (I am living in it my ex is living somewhere else) is due for renewal. My ex has indicated he will not be renewing it. The house is in my ex's name but the mortgage is in both our names.

    I would gladly renew the mortgage but my ex has said he will not be renewing it. The bank won't renew without him since I don't have enough money or a high enough income to make all the payments. He is using this as a tactic to force me to sell the house. Can he do that? It doesn't benefit him since the house is in his name or does it? Is this a way he can force me to sell the house?

  • #2
    Find out from the bank what the consequences are for not renewing. Sometimes it just converts to an open mortgage at a higher interest rate. Not ideal, but not a forced sale.

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    • #3
      just move out so the house can be sold. We keep telling you that.What he is doing now is washing his hands of it. The bank will foreclose when the mortgage is not renewed or paid off. Then you will find out how quick the bank will lock you out.

      Comment


      • #4
        Yes he can. Which means the house would be foreclosed and you both would get nothing. Not to mention your credit would be shot. He runs the risk of losing too but he may have better credit than you and he has a steady income. With no home you also run the risk of losing custody.

        Continuing to drag your heels is a bad idea.

        Comment


        • #5
          Kinso is correct; ignore the peanut gallery. You'll be moved into an open mortgage with a much higher payment. Not ideal but since ex makes the payments, this will negatively affect him- as would stop paying all together. Court may be sooner than you hoped but you're still fine for now.

          Comment


          • #6
            Originally posted by StillPaying View Post
            Kinso is correct; ignore the peanut gallery. You'll be moved into an open mortgage with a much higher payment. Not ideal but since ex makes the payments, this will negatively affect him- as would stop paying all together. Court may be sooner than you hoped but you're still fine for now.
            Does this mean he can claim he's making higher third party payments as part of unofficial spousal support payments?

            It's a relief to know he can't use mortgage renewal as a tactic against me.

            Comment


            • #7
              Originally posted by trueblue22 View Post
              Does this mean he can claim he's making higher third party payments as part of unofficial spousal support payments?

              It's a relief to know he can't use mortgage renewal as a tactic against me.

              He can claim occupational rent if the cost goes up above what he may owe as spousal. Remember that entitlement hasnt been determined and this is one more way you will have to pay him back if digging in is wrong.


              Sent from my iPhone using Tapatalk

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              • #8
                Originally posted by trueblue22 View Post
                Does this mean he can claim he's making higher third party payments as part of unofficial spousal support payments?
                It would mean he makes poor financial decisions, not much more. Choosing to pay more for mortgage is his choice so shouldn't affect you. I think it'll come down to the items he's paying for rather than every nickel and dime.

                It's a relief to know he can't use mortgage renewal as a tactic against me.
                You're not paying, so it's hard to use against you. If you were paying the mortgage, you could go to court to force your ex to renew but that's all on him.

                He can claim occupational rent if the cost goes up above what he may owe as spousal. Remember that entitlement hasn�t been determined and this is one more way you will have to pay him back if digging in is wrong.
                ~ 😬 smiling and nodding

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                • #9
                  Stillpaying Im surprised you are taking the stance you are in this topic. OP is trying to fleece her ex and claims all this entitlement. Shes also dragging this out. If it was your ex you wouldnt have such rosy advice!


                  Sent from my iPhone using Tapatalk

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                  • #10
                    Originally posted by rockscan View Post
                    Stillpaying I�m surprised you are taking the stance you are in this topic. OP is trying to fleece her ex and claims all this entitlement. She�s also dragging this out. If it was your ex you wouldn�t have such rosy advice!


                    Sent from my iPhone using Tapatalk
                    Ex is getting a discount and certainly doesn't mind the delay.
                    OP is living comfortably for now, avoiding the upcoming change for as long as possible.

                    Let the stance you take follow the rules and get rid of emotion. Then you don't have to make things up or provide mind-blowing disservice with every post.

                    Comment


                    • #11
                      Originally posted by rockscan View Post
                      He can claim occupational rent if the cost goes up above what he may owe as spousal. Remember that entitlement hasn�t been determined and this is one more way you will have to pay him back if digging in is wrong.


                      Sent from my iPhone using Tapatalk
                      This is what I am concerned about. Recent rentals for similar housing on my street is more than the mortgage payment on the house.

                      My lawyer says I will be entitled to spousal but it won't be as long as I wanted since it's been almost 6 years of separation and we were married and lived together for almost 12. I will definitely get child support as long as my ex doesn't brain wash the children to want to spend more time with him.

                      Comment


                      • #12
                        Originally posted by StillPaying View Post
                        It would mean he makes poor financial decisions, not much more. Choosing to pay more for mortgage is his choice so shouldn't affect you. I think it'll come down to the items he's paying for rather than every nickel and dime.



                        You're not paying, so it's hard to use against you. If you were paying the mortgage, you could go to court to force your ex to renew but that's all on him.



                        ~ 😬 smiling and nodding
                        The mortgage has both our names so I can't renew with out him. I think he wants me to take him to court because he will be able to request for the sale of the house. My lawyer advised me will fight for me but he's positive a judge will force a sale especially since its been so long.

                        Comment


                        • #13
                          Originally posted by StillPaying View Post
                          Ex is getting a discount and certainly doesn't mind the delay.
                          You are assuming this. He has been paying for longer than he should have and was locked out of his house.

                          Let the stance you take follow the rules and get rid of emotion. Then you don't have to make things up or provide mind-blowing disservice with every post.
                          Im not making things up or doing a disservice. Giving OP false hope is stupid and for those coming here in the future, also clouds the issue.

                          The bottom line is, OP is looking for whatever excuse possible to avoid the inevitable which is that she is not entitled to stay in a house she cant afford and receive money she isnt entitled to.

                          Comment


                          • #14
                            Originally posted by rockscan View Post
                            You are assuming this.
                            No. I'm basing it on the numbers and info provided. To come to any other conclusion would actually be assuming. Stop making stuff up.

                            He has been paying for longer than he should have and was locked out of his house.
                            He left the house and hes only paid 5 out of 6 to 12 years. Stop making stuff up.

                            The bottom line is, OP is looking for whatever excuse possible to avoid the inevitable which is that she is not entitled to stay in a house she can�t afford and receive money she isn�t entitled to.
                            Spoken with true fairy tale emotional reasoning.

                            Comment


                            • #15
                              My lawyer told me I'm going to have a hard time arguing for compensatory spousal support. My ex nearly doubled his income from separation till now but since it has been so long the courts expect me to be more self sufficient since I'm still relatively young. Is this true? I am turning 40 this year.

                              Comment

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