What to do about jointly held property after a divorce?
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What to do about jointly held property after a divorce?
When we divided the community property it was amicable. We had tenants at the time and agreed not to sell the house until the market was better. Now the tenant has moved out (over 8 months ago) and my ex-husband hasn’t paid the mortgage 7 months. We were to put equal share into the house. When I started to get calls from the mortgage company that we were delinquent I asked him buthe won’t return any of calls. He says he’s going bring everyone down with him. What I would like to know since he won’t respond to any of my messages, what are my rights?
Asked on July 28, 2011 California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You need to read the martial dissolution order between you and your former husband if you have one to assist in the answer of your question. If there is a dissolution order, it may discuss legal title to the house you have and what to do if problems arise regarding servicing its debt load.
If you have enough money to service the property's debt load and wish to do so to protect your credit and prevent it from being foreclosed upon, you should consider doing so. If not, you need to have a meeting with your former husband as to what to do about the house. One option is to place it on the market for resale.
You might also call the mortgage company about a possible loan modification agreement. Right now, your credit could be damaged due to non-payment on the loan. The loan needs to be made current or you could very well lose your home.
You might consider consulting with a real estate attorney for further advice on your question.
Good luck.
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