What do I do if ex didn't follow divorce decree and remove my name from a real estate loan that he was to be 100% responsible? 5 Answers as of August 23, 2013My ex was to get my name off a real estate loan and be solely responsible for the outstanding amount, plus the house in the divorce decree was also signed back over to my father as promised. Now, after 15+ years, the loan is showing on my credit record as being 120+ days late for approximately 18 months with a balance of $3008.00, which has completely killed my credit rating. ALL other accounts reported to my credit record is perfect, even the debt I assumed (which was of equal amount) at time of divorce. What can I do?
John Russo | John Russo
Sorry to say this is your fault, did you do this divorce yourself? If not then I suggest talking to who ever put this thru. After 15 years he will have all types of defenses to you moving now to do something, does not mean it's impossible but you need a good lawyer. Your agreement should have accounted for this, i.e. the husband has 120 days to refinance said real estate and to remove the wife's name therefrom , if he fails to do so the real estate shall be placed on the market for sale FORTHWITH, all cost associated with said sale shall be the husbands responsibility, the net proceeds shall be divide 50/50, all cost shall come from the husbands net proceeds amounts, any debt associated with said sale shall be the husbands total responsibility. Any halfway good divorce lawyer would have had this language.
Answer Applies to: Rhode Island