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paying the mortgage and stopped paying bills in Jan.

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  • paying the mortgage and stopped paying bills in Jan.

    My question today has to do with our mortgage payment.
     
    My name is not on the deeds we are married my husband and his mother are on the deeds. I know that the house can not be sold with out my signature.
     
    He is not paying any bills including the mortgage, his plan is to default on the mortgage and have the bank take it over so that the house can be sold.
     
    Mortgage account is in a negative.
     
    I have an appointment with a lawyer in May.
    I have charged him and will be going to court. He has broken his probation. We have no contact using third party for kid’s access.
     
    Been a stay at home mom for 11yrs, I have found employment and making a very good income so I can hold this mortgage on my own.
     
    Should I pay the mortgage or leave it…we have two children and I want to keep this house for them.
     
    Thanks
    B

  • #2
    It depends on how much the house is worth vs the mortgage.

    It is expensive and a lot of work to move so you have to consider that.

    Did he move out? Is he paying any support? How much does he take care of the kids?

    He owes you half the negative value of the house, though his mother on the deed may change that (ie perhaps you and your husband only own half the house, so 2/3 of the negative equity is your ex and his mothers).

    I don't know the implications of his mother being on the deed.

    Can you get a mortgage of your own (help from family for the down payment etc)? If so, perhaps you should let it default and then buy the house from the bank - perhaps at below market value.

    Settle your equalization and support payments with your ex asap.

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    • #3
      if your name is not on the deed or the mortgage leaglly the house can be sold without your consent unfortunately......its still his asset.....if he defaults then he screws his credit & his moms.......if you can afford the house and upkeep on your own then you need to get him to sell to you for what is owing not the market value.....be careful though......I believe that when house goes 3 months in arrears they can start foreclosure on it

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