@@alfredodiego3920 I'm truly sorry for any bad experiences you have personally had, but in general if you hire your own attorney you should be handled appropriately. A public defender is another thing all they'll ever do is try to make a deal.
This happened to me. She got to keep the house and my name stayed on the loan. The judge said she was supposed to refinance in her own name within 6months. All the payments were made on time until then. After she was told she had to refinance all of a sudden she didn’t have the money to make the mortgage payments, even though she was getting $2,300/mth from me and the payment was $975/mth. She didn’t pay for 6mths(used that as reason to say she couldn’t refinance), let the foreclosure process start, then got HUD to pay the back payments plus some ($40,000 on a $150,000 balance). The mortgage stayed in both our names but now me taking a hit on my credit. She continued to live there for another year, the value went up, and she sold the house and got about $86,000 in profit, of which I got none.
Marraige is dead. It is an institution that has been around way to long. Via societal changes, feminism, and the destruction of the tender years doctrine. Have left men at a huge disadvantage. To where they're is no tacit or implicate improvement to married life.
Brother … I don’t know how you didn’t commit murder or burn the house down at that point 😂. Seriously though I can’t imagine going through that hope you are staying strong .
But that's because you can't use child maintenance as income for loan purposes. I couldn't even get a car loan because of my mortgage. My mother has to guarantor my car loan
@@nicoletobincairns that’s not entirely true. She worked and can and did use child support and maintenance as income to get her infinity q5 car loan. Her plan was to ruin my credit and have the state help her pay down the mortgage so when she sold the house she would get more money. Which is what happened. I’m not sure but I believe there was some sort of fraud that took place.
My ex, a year or so before our divorce, suggested I put her name on the mortgage. I'd owned my house years before we'd even met. "Why?" I asked. "We're married." She answered, "Just thought it would be a good idea." I didn't jump through that hoop cause it made no sense. Turns out she had begun plotting the divorce. And since we'd only been married 5 yrs, it wasn't going to be a clean split. So a lawyer friend of hers suggested she get her name on the property.
My husband went through this. When he got divorced from his first wife, he never got his name off the loan. Long story short, she didnt pay her mortgage and the house foreclosed. It took YEARS before he and I could qualify for a mortgage. FORCE THE SALE OF THE HOUSE!
Yeah and how you going to do that so is it a mistake or is it simply I want my kids to have a place to live so here you can get this if you agree to it and I'll stay on the loan because how the hell is someone going to refinance the house by themselves and get approved. This guy doesn't live in like the real world he lives in his whole little I'm just going to go ahead and make money by having people calling and tell them stupid s***
Why should kids loose/leave their home, school, friends etc. because of divorce. You must not have kids, otherwise you would not say that. Divorce is traumatizing enough for children without added big changes.
@PInk77W1 if they don't agree with it, then the next step would be the judge to decide - which would've taken an extra 6 months to get to trial and possibly the house having been long gone I see don't see your point? With the economy now, you can't work 1 job and support 2 seperate households
That's what my wife and I did and I paid her off and I kept the house. It eventually worked out great for me. She however was lousy at managing money so she quickly blew through her payout and was back to struggling to get by. Shhhh! Sweet Schadenfreude!
@@DopeRocking Gee how did you know? In a park. "Rented" the space. A tornado ripped the roof sang she couldn't figure out how to get the government payout.
@@tedkiser6860 My wife was not that crazy. Actually her superpower was logicing her way out of any personal responsibility. However, in this case she moved to another state as I was nowhere around to blame! She did get audio interviewed by Brett Baier on Fox News after a tree crashed into my daughter's bedroom from the tornado.
Why would i quitclaim my half of the house and walk away with nothing? Nope! Sell the house, pay off the mortgage and walk away with half of whatever's left. She's getting half of everything, plus alimony, plus child support. She can find a place to live. 🤷♂️
@@user-ko5ng3lm1z Men tend to walk away from home where it reduces the amount of money they have to pay out. It's usually so he can keep his full retirement or reduce child support/spousal maintenance. Women aren't just getting the house for nothing. And women in this situation were usually homemakers so her labor made it possible for him to afford the home and the retirement and the other ancillary benefits-- which is why it's all still half hers.
@OGimouse1 that's a load of shit. A women cooking and cleaning my home doesn't make it easier for me to increase my career. I'm doing all of that my self.
If you saw this happening and saw her not making the payment should have made the full payment of $975 - 6k in total and she would have still had to refinance and your credit would have been fine.
You said you agree with MOST of it but it sounded like you were both saying that a quitclaim alone is wrong. What part of what he said do you disagree with?
Exactly my question - the only thing I can think of from the clip she might disagree with is the first statement ("*most* divorce attorneys make a huuuge legal error..."). She makes it a point to say that her area handles this properly so maybe she disagrees with the "most" statement.
Signing away ownership of the house while you're still legally liable for paying the mortgage, which has your name on it. You're still responsible for paying the mortgage, even though you have no rights to the house and no rights to any profit from selling it.
I quit claimed a house after a divorce. Had to file bankruptcy. I got settlement check for second mortgage that was on it. She demanded half. Nope, she wasn’t on the second mortgage and I got keep all of it.
No lender is going to let one borrower off the hook. Refinancing in one name or selling the house if they do no qualify to do that is the only way forward. And yes, I have seen countless cases where quit claim deeds were required and name was left on mortgage. Most divorce attorneys have no financial skills almost whatsoever. I would not rely on attorneys for financial advice, except specifically for taxes with a tax attorney.
@@MrtrenchTrucker sorry, you are wrong. Been happily married for 50 years. Friends have been married 50 years. Kids married 19 & 20 years. Sorry for your experience
It's a fantastic strategy for the woman since the man usually pays for BOTH attornies. The attorny on the woman's side really has no incentive to end without a big payout as his retainers are infinitely paid for till the husband just gives into the demands since has a blade to his throat.
@@polishpimp4233 No it isn’t good for the woman! The lawyers get each a retainer hourly fee charge in court costs etc & there may be a % of award. Kids get used as a bargaining chip with the woman’s lawyer seeking full custody typically. It gets ugly and dragged out until both lawyers have had their fill and a settlement achieved when the $ is drying up ! Have seen some drag out for years. Could all be settled by arbitration having pre negotiated fair terms between each other. Always get a prenup saves a lot of grief.
No one is holding a gun to men's heads to get married. Yet they keep doing it because they love the safe sex and having a mommy pick up their socks off the floor.
My parents had this issue when they split. Took my dad a few years to refinance without my mom because his credit wasn't great. She was NOT happy about it, but I think she knew in advance that was going to be the case.
I agree with the Attorney. You have to get your name off of the (home loan). You have to be relieved of that obligation, or you are always going to he on the hook.
Started divorce process 2 years ago, took 1.5years and an almost forclosure for her to grow up and finally list the place Missed out on 50k+ thanks to her destorying it in the process.
This happened to my neighbor and the husband got the house and several times came close to foreclosure and completely screwed her credit. He finally sold it. She got nothing but bad credit out of it all.
Nope. I refinanced the house and took her name off it. Got a lower rate also. Gave her a big check. Then new wife moved in a re-decorated. Everything she did was gone.
Because the lawyers WANT the husband to give up his rights in the house AND ALSO pay for the mortgage as well. The ladies want their cake for free, while everyone else pays. That's not equality!
Happened to me as well, tied up my VA loan for years. I was lucky that she could make the payments. But the courts didn't do anything to make her refi or sale or to even pay her half of the debt that stayed in my name because I was the primary account holder. I ended up filling Bankruptcy and yet again she was protected from that as well. The system is rigged and broken
I agree completely. In 20 years of real estate practice I've seen countless separation agreements that call for a spouse to refinance, but I've never seen it actually done.
I did but had enough equity built up to qualify for a loan that would pay her half and keep me in the house . Of course I had to start over with a 30 yr mortgage
People lose the ability to refinance. Credit & income takes a severe hit. Plus, mortgage interest may not be condusive to affordable new payments. In most cases, women & children have a severely impaired life. It's one that the women cannot over come that hit. Poverty is now their reality. Loan companies need to be mandated to remove names.
Female here... In my divorce papers, it specified that my ex-husband not only got the house but that he was responsible for all payments. When he failed to pay, the mortgage company tried to come after me. I overnighted a certified copy of my divorce papers to them and got a call the next day that they would no longer be bothering me. 😂
Yes, I did not sign the quitclaim until the ex refinanced. She had 3 years to refinance or sell. Lucky me she did it in 1 year. I lost my house but kept my retirement.
Her advice makes the most sense. Get the property out of both names then move forward. If either party wants to buy the house independently, they can be financed for it independently.
Better yet is a warning label should be attached to all fiancees .. because the odds of her getting an attorney and leaving with more than 1/2, your assets and payments to the " family courts that's 3/4 of your income for the next 17 or so years is 80 % because men should remember she's not yours it's just your turn.
I never listen to DR, but for some reason I already knew this. I left my husband and he got the house. I knew he had to buy me out. So, he refinanced, bought me out of my half, and that was the end of it. We didn't use an attorney for our divorce.
My ex and I separated a year after buying a house with his zero down VA loan. He kept the house and I got all the furniture. I never even thought about my name still being on the loan. Thank goodness he didn't screw up my credit!!
This happened to my husband and his ex wife.. we were miserable. She was paying the house but most of the time it was late so it would screw with his credit, finally after 6 years she sold the house and it was done! For a moment I thought we'd be tied at hip forever.
My mom's credit got screwed that way. She didnt have any claim to the house anymore, but was still on the mortgage. Once on one income, my dad couldn't afford the mortgage it was less than his monthly take home, so he inevitably defaulted on the mortgage before the bank was willing to refinance. Well, my moms credit also got hit with the beginnings of the foreclosure and subsequently was screwed out of being able to get her own house.
Your dad couldn't pay the mortgage because of the child support, alimony, spousal support, etc, that he had to pay, on top of havingto pay for not only his lawyers but your moms as well. It had nothing to do with him having to pay from one income, it had everything to do with the fact your mom was getting most his money.
@@JoeJohn-ww1du If his monthly take home was less than the mortgage, chances are she was the one who had to pay child support and alimony. From the sounds of things that dad was likely just a bum.
They won't allow her to refinance without your permission if you have any other interest in the property. The range reason credit card debt during marriage tends to reshape what happens in the MSA
@@robinlooney5440right, let's never forget about rare exceptions to the rule. "It happens to women less than one percent of the time people, which means it happens to both sides..."😒
I've never seen an ex remove their name from the title but remain on the loan in a divorce settlement. Whoever retains the home typically refinance the loan in their name only. And the ex receives a payout for removing their name from title. And sometimes the wife and kids move out of the marital home, and the husband retains ownership. Every divorce settlement is unique.
Dont forget joint credit cards. The cc companies wouldnt take my moms name off the cards my dad got in the devorce. He ran them up and my mom had to pay them off
During divorce there is a temporary order that goes over credit cards. Same goes for final divorce you can file contempt charges if they violate that term
I had a friend who got amicably divorced in California and she was awarded the house but she didn’t want to refinance to take her ex husband’s name off the loan because the property taxes would be reassessed to a higher amount. She wanted him to quit claim his name but he didn’t agree because his name would still be on the loan. She eventually agreed to keep him on title to avoid refinancing and paying higher property taxes. If by chance she passes away before him, he will get the house. I don’t know if this will override the divorce decree but I am witness to her agreeing to give him the house if she ever passes first.
And then she can take an equity loan against the house, not pay it, and who's on the hook for that? My ex didn't cooperate 1 bit. We went through bankruptcy and foreclosure on 2 houses. She thought I was going to pay for a new house for her too. Was she wrong!!
The issue with this is that a prenuptial agreement are seen as an insult to many women, wherein they feel the man doesn't trust them. Rather than see it as protection for both parties.
In some states, there is also what is called an assumption process if said person who gets the house is given it in full with no need to pay back. I am currently going through this because my ex didnt want anything of the house because she said i was the one that put all the effort into it. This also protects the loan so rates dont change if say the current market rates are worse than the original rate. Example: original rate at a 2.5% but current is 7% so the assumption process keeps that 2.5% NOTE: NOT ALL MORTGAGE COMPANIES ALLOW THIS FOR SAKE OF MAKING MORE MONEY.
In this situation right now and didn’t know I was in it until after all of the paperwork had already been signed and filed in District Court as final. I wish this was something I knew about beforehand. It’s a massive headache right now.
That's so messed up a woman can throw you out and you still have to pay for now her house even if you've done nothing wrong she just got "bored" with you... What a disgusting thing to do
I tried to refinance and couldnt get it refinanced but dont have issues making the payments. When i talked to the attorney. I made a good faith attempt but since I cant get it refinanced and the interest rates went up so much. Pay it off as soon as i can and then get her off.
This happened to me. I divorced during 2009. All our assets were upside down. Husband got the house. He ended up in foreclosure due to the economy. I ended up with the foreclosure as well. Now, they wouldn’t be able to sue me for the funds since I had the divorce decree.
I"m not concerned at all. I'm not interested in anyone else cheating, and bankrupting me like my (ex) husband did. NEVER again!!!! He wasted most of the money he got, and now he's broke on his @zz and living in his mom's spare bedroom.
The one who gets to keep the house has to refi. If the other spouse needs to sign, there can be a court order. Never leave your name on a loan if the other spouse gets the house. I am a realtor and have seen this before.
I met that guy at an airport lounge not too long ago. I didn’t know who he was. Didn’t particularly care. I own a business and was sitting there doing something and he started talking to me about my business. I was like ok…. who tf are you? And he said who he was with this attitude like I should know who he is. I didn’t. I cut him off halfway thru a sentence and answered my phone and put up a finger and he got up and went to the buffet. I looked at the bartender and asked for a drink and the bartender told me who he was. Still didn’t know. He comes back and tried to talk to me again and I asked him if he had worked in my industry before. He hadn’t. So, i just looked at him. And then kept looking at him. Then I looked at him some more. Then he started talking again, so I stood up and walked to the buffet , got one thing, came back and looked at him some more and waited for him to talk. That’s it. That’s my story. I hope you found it riveting and informative. I thank you all for coming. Please send me money. Thank you.
Yep and put what ifs in place. What if the house doesn’t sell. How much did we agree to list and sell it for. What happens if the spouse who is in the house can’t refinance. Then it must be sold by x date. Always think of those what ifs.
I had to refinance within 18 months of the divorce. Luckily, I did in June 2021 for 3.75%...I'm never selling 😂 FYI. No kids...went to a mediator and it was quick. 4 mos.
Likely both parties agreed and the process was civil. Many marriages are not that, or they devolve into one party trying to get more than equal treatment for past treatment or whatever
Keep in mind that the loan is _secured_ against the house. So if _she_ doesn't pay the mortgage, the bank will take the house that _she_ is living in. So it's highly unlikely that he'll be asked to pay the loan unless there's negative equity in the house to begin with.
In Australia this ABSOLUTELY is not allowed, if there is still a mortgage on the house and BOTH are fighting to keep the house then usually the house will be sold the outstanding amount goes to the bank and whats left is split 50/50 after legal fees OR if one of them wants to keep the house then that person is required to pay the other HALF of the market value for sole ownership, raising kids in said has ISN'T taken into consideration when split assets that still have money owning on them. We also DON'T have alimony, child support for kids under 18 yes and that is calculated by income, but NEVER is a spouse responsible for the financial well-being of the other after separation.
Yep 100%. This happened to me. And despite being in our divorce decree that she had to take the home loan out of my name within a year, she didn’t do it and it fucked up my credit.
