if you owned a house

luvmycoca

If you and your H owned a house together did it have to be refinanced ASAP with the divorce?  Our house is an awesome layout for my little girl who will be in a wheelchair.  I can afford the house on my own, but we are upside down on the mortgage (like 90% of the world) and not too sure how it could be refinanced in my name only.

Mominator

We sold out house because neither of us could afford it on our own. That said, I think that it is fairly typical when divorcing and there is property involved, it can either be sold off and the profits split, or one party can buy out the other.

eta: I just re-read your post and saw that you are upside down on your mortgage. Since there is no equity, I'm honestly not sure how that would work. Sorry

BMenz

luvmycoca:

If you and your H owned a house together did it have to be refinanced ASAP with the divorce?  Our house is an awesome layout for my little girl who will be in a wheelchair.  I can afford the house on my own, but we are upside down on the mortgage (like 90% of the world) and not too sure how it could be refinanced in my name only.

 

You could always call your mortgage company or talk to your lawyer/contact a lawyer if you don't have one

luvmycoca

BMenz:

You could always call your mortgage company or talk to your lawyer/contact a lawyer if you don't have one

Of course Not quite to that point, just getting organized and informed.

lnelson20

you may be able to assume the mortgage on its existing terms instead of trying to refinance. as long as you qualify on our own, being underwater is irrelevant in an assumption.

dimake

The wording in our decree says that I'm responsible for the mortgage, and XH signed a QCD so the house is in my name only, but due to credit issues I wasn't able to refinance at a decent rate last year.  I figured I'd try again in another year or so after the divorce credit got better.