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Ex-spouse causing adverse credit effect


The last post in this topic was posted 2853 days ago. 

 

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After the decreased in CL on two of our Chase cards, my husband and I checked out our credit reports. Mine was fine, no negative items. However, my husband's reports all showed the same negative item.

 

In 1997, my husband got divorced from his first wife. The divorce decree awarded her the house that both their names were on the loan for; however it stipulated that should she remarry, she was to re-finance the house to remove him from the loan. She has since remarried and divorced, but never re-financed the house, so it has continued to show up on my husband's credit reports as an obligation. Now it seems that earlier this year, she fell behind on her mortgage payments, so the loan is appearing as a negative item.

 

What are your suggestions for the best way to handle this? Should my husband call the mortgage lender and ask them not to report the negative on his credit? Or should he write to each of the credit reporting agencies and include the paragraph of the divorce decree that shows she was supposed to re-finance? Thanks for any ideas you have!

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they are not likely to do that if she hasn't refinanced and took his name off the mortgage.

 

he is still on the hook, and they may come after him.

 

he can sue her for contempt of a court order, but he's on the mortgage, the bank isn't going to let him off.

 

he needs to force the sale .

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If he forced her the sell the house, then he'd be depriving his kids of their primary residence. So she's pretty much got him in an impossible situation. It may not do any good, but the only thing I can think to do is to have him add an explanation to his credit reports.

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He should take this to whatever lawyer handled his divorce. He should be able to get a court order removing him from the note. Either way, it looks like the kiddies are going to be homeless, better they be homeless and no liability on his part than homeless and he's sued for a foreclosure deficiency. Or you can take them in and take her back to court for child support.

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He should take this to whatever lawyer handled his divorce. He should be able to get a court order removing him from the note. Either way, it looks like the kiddies are going to be homeless, better they be homeless and no liability on his part than homeless and he's sued for a foreclosure deficiency. Or you can take them in and take her back to court for child support.

I seriously doubt that any judge would put his name on a court order telling a bank that they can no longer enforce a legal obligation. A stipulation in a divorce affects the parties to the divorce only, not the creditors. Now, if the mortgage lender was a party to the divorce, properly served and represented by counsel at the hearing, and a signatory to the decree, maybe.

 

Just my 2 cents... :wave:

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I seriously doubt that any judge would put his name on a court order telling a bank that they can no longer enforce a legal obligation

 

Correct, I should have been more clear. My computer guy is going through this. Part of the stipulation was that his ex remove his name and refi under her own name, or sell the property and be responsible for any deficiency. She never did it, now they are chasing him because she is behind on payments. They went back to court and the judge held her in contempt and gave her a week to list the place for sale.

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