Legal Question in Real Estate Law in Connecticut

divorce and jointly held mortgage

i am divorcing. i own a home jointly with my husband. he's keeping the house and would not like to refinance to get me off the mortgage. he doens't want to lose a great mortgage rate and a low monthly payment. he wants to give me a cash payout for my equity and then establish a hold harmless indemnity doc.

is this a safe bet for me? will it impede my ability be granted a mortgage?


Asked on 5/27/07, 3:06 pm

2 Answers from Attorneys
Nicholas Adamucci ADAMUCCI, LLC

Re: divorce and jointly held mortgage

It may because you are still a party to the original mortgage agreement. If you need further help, you can email me at [email protected].

Read more
Answered on 5/27/07, 8:52 pm
John Heffernan Heffernan Legal Group, LLP

Re: divorce and jointly held mortgage

This is not a safe bet. You'll still be liable on the mortgage note if your ex doesn't pay. Even if the judgment makes him "hold you harmless" (i.e. pay), if he doesn't, the bank will still come after you.(You can divorce him, but you can't divorce the bank). And, yes, it would prevent you from getting another mortgage, or a car loan, for that matter. You should insist on a sale or a refinance, and if he can't (or won't) refinance within, say, six months, then the order should be that the house then be sold.

Read more
Answered on 5/29/07, 2:51 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Connecticut