Am I obligated to refinance my home? 4 Answers as of August 05, 2011

I was awarded one of our homes in a divorce, the county has made the appropriate changes, but I never refinanced because ex told me not to, save my money. Now 8 yrs later he is telling to refinance. If it was not specifically stated in divorce papers, do I have to?

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Beresford Booth PLLC
Beresford Booth PLLC | S. Scott Burkhalter
The short answer is no; but, he could file a motion and ask for an order requiring you to do so.
Answer Applies to: Washington
Replied: 8/5/2011
Seattle Divorce Services
Seattle Divorce Services | Michael V. Fancher
If there is no court order requiring you to have your ex's name removed from the mortgage, by refinance or otherwise, then you are not required to. On the other hand, it may be worth looking at whether a refinance would lower your rate from what it was. You also might propose to your ex that you will do it if they cover any fees you have to incur.
Answer Applies to: Washington
Replied: 8/3/2011
Glenn E. Tanner
Glenn E. Tanner | Glenn E. Tanner
In Washington, if the decree does not say you have to refinance, in my opinion, no.
Answer Applies to: Washington
Replied: 8/2/2011
Law Office of Michael W. Bugni
Law Office of Michael W. Bugni | Jay W. Neff
If the divorce decree that was entered some 8 years ago does not require you to refinance your home, then, I have trouble imagining how you could be required to refinance it now. However, if you are financially able to refinance it now, you might try negotiating with your ex. This could be to your advantage if you can get a significantly lower interest rate on the mortgage. Maybe try something like: "sure, I'll refinance, provided I can get an interest rate that is below X% and provided you pay the costs of the refinance."
Answer Applies to: Washington
Replied: 8/2/2011
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