Legal Question in Family Law in Indiana

My ex-husband and I divorced last year. We has two houses at the time, one is only in his name and the other in both our names. On the first property, although the title is only in his name, there is a LOC in both our names. The divorce papers just said that this property would be his and that he would take over the LOC payments. Also, he would attempt every three months to get it refinanced. He hasn't had a job since our divorce and although he is making the payments now, I am concerned that at some point he might not be able to then he might have to default on the loan. The bank has told me that the only way to get me off the LOC is to refinance, which they will not do for him because he has no job. Is there anything I can do to protect myself from a future default on this LOC? Thank you, Sara


Asked on 6/22/10, 9:53 am

1 Answer from Attorneys

This should have been considered when the divorce was granted. There should have been a refinance clause with a contingency requiring a sale if refinancing did not occur within a certain time frame. Contact your divorce attorney to see if there may be some circumstances that would allow for a modification of the proeprty settlement. Regardless, the other problem that you have, is that assuming the house is put up for sale, the market is down and there may not be a buyer.

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Answered on 6/24/10, 5:10 am


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