Legal Question in Real Estate Law in Wisconsin

Re: mortage loan

Did your MSA/Court Decree deal with this issue? If so, you are both required to follow your agreement/

judgment.

You say that this is somehow effecting your ex's credit rating? Why? Are you late making payments? Delinquent on taxes? Or violating any other terms of the note and mortgage?

I am told that sometimes lenders will not loan money to to exs who are still responsible for the mortgages on the former marital home, saying the person cannot have two home loans. This may be a bigger problem in today's down market. But if you have been complying with all the terms and conditions of the mortgage and there are no other provisions in your divorce decree, you are not in default and there is probably nothing your ex can do. You should not take that for granted, however, and should have an attorney review all these documents to be safe.

I have also heard that if you ex were diligent and persistent he can probably find a lender who will recognize that so long as you have a demonstrated record of paying your mortgage timely, that they will NOT count that against your ex. That is, he may be able to get a loan if he tries hard enough.

On the other hand, depending on your interest rate you may be able to refinance the mortgage, get the ex off the new note and mortgage and get a better interest rate in the process. In other words it might be to your advantage to refinance yourself. You should investigate this as it would be a win-win situation for both of you if you can refinance.