Hello,

Bought a house in 2007. Note under my name since his credit was not so good. Divorced in 08-15-08. In divorce decree he got the house (equity) I got the note. He cannot refi. ( bad credit), signing for all responsability for this house: expeneses, payments, etc. I quit claim - deed.

House has been for sale since then. The price was lowered in May 09.

He paid late twice Feb and March 09. I Filed a motion and went to court in May 09.  He said he filed for Chapter 11 a day before, not including this house. Left the mortgage account current tht day. Lawyers fee's were awarded to me. I still havent seen this money.

I have moved to a different state.

Still dont know if the bankruptcy was awarded. He is late again. Last payment was sept. 25th. I want to move on with my life and not worring about my financial present and future.

Citi mortgage says I am fully responsible for this note. I have sent letters to credit bureaus, Citi Mortgage explaning the siutation. No luck. My credit , which was excellent is climbing back but the idea that I will end by paying a note for a house that is not mine is a nitemare.

I am debt free BUT his house!!!!!

Can I surrender the house now that stil has equity ?

Can I be able to dispute my credit score if I can surrender , with all documents I have from divorce and court?

HELP!

Marcella

You need the help of an attorney that specializes in this type of situation.  Quit claiming the home to him doesn't relieve you of the responsibility on the note since you were the one that obtained the loan.  The only way you would have been relieved of that obligation is if he had formally assumed the loan, which it doesn't appear that he would have been capable of doing.  I can't imagine why your attorney would have allowed this sort of scenario.  There is no protection for you and you have this continuing liability.  Check with an attorney but it looks like you should have continued to make the payments while your ex made payments to you so that you could insure they were made on time. 

Thanks!

I hired another ttorney since february.

I just found out ( today) he was granted with the chapter 7 during the summer. The problem is that he wants to make a profit out of the house, so since its not his credit, he does not care.

If I surrender the house, of course my credti will be ruined for several years..but bank takes the house. I dont have to be sleepless anymore.

What type of attorney? real estate?

Regards,

Marcela

I think that a real estate attorney would be a good choice.  Make sure that they have experience with this type of issue.

I have delt with this issue personally and it really comes down to the lender. "if" and I use this lightly, the lender "feels" there is enough equity in the house they might let you surrender the house if not the FC process will proceed if you feel you must walk away from the house.