Legal Question in Family Law in California

Who is owed what?

I reside in our former family home and make full mortgage payment on the first loan, we are both still on the title, he is owed 15% of the value of the house when I sell per the dissolution agreement. When we first legally separated, there was a very small second loan (15k) and I verbally agreed to allow my ex-spouse to pay off that loan and instead take out a larger line of credit (175k) against my house so he could put a down payment on a new house. He has made regular payments on this LOC.

Being unable to take out a second on the house since he already has one against it has cost me ~40k because I have needed to make ends meet with high interest credit cards rather than using the second. I need to refinance (to pay off the debt) and want him to sign off title. He states he will only do this if I put the LOC (minus the 15% value of the house owed to him plus original 15k that was on the old second) on my new mortgage. I cannot make payments on a mortgage this large. I want to keep the house until our children are grown and do not want to be forced to sell to give him 15%. Would I have a leg to stand on if I tried to fight this?

Thank you!


Asked on 6/09/04, 11:16 pm

1 Answer from Attorneys
Brian Levy, Esq. Law Office of Brian Don Levy

Reply: Who is owed what?

One would have to review the underlying Judgment in order to assess your ability to successfully seek a modification.

For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced family law lawyer. Experience is not expensive, it's priceless!

You will find some valuable information on various California family law issues at my web site.

Good luck to you!

Brian Levy, Esq.

www.calattorney.com

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Answered on 6/10/04, 10:34 am


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