Legal Question in Real Estate Law in New York
mortgage consumption
what can we do?My fiance' & his ex-wife went through a divorce and the decre stated that she must consume mortgage but She didn't and 10 years later while trying to purchase new property we find the home is being foreclosed on and the mortgage is still in my fiance' name, but the deed was transferred into her name in 1998 she has not made a payment in 3 months we need to do something but what?
1 Answer from Attorneys
Re: mortgage consumption
You can bring her back to court for a "contempt of court" for her failure to abide by the terms of the divorce decree. The court could compel her to bring the mortgage current, and also to sell the house. The mortgage company is under no order to delete your name from the mortgage. She should have remortgaged the house, or sold it. Now, 10 years later it comes back to haunt you. YOu must do something immediately or your credit will be impaired, and there is a possibility, although remote, that you could be held liable for monies if the house does not sell for the mortgage amount.
If you should need the services of an attorney, please feel free to contact me.
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