Results 1 to 2 of 2
  1. #1
    Join Date
    Jun 2007
    Posts
    8

    Default Negative Equity in the Marital Home

    My question involves divorce in the State of: NC

    I made the decision to get a divorce late last year and my wife agreed to leave as she could not afford the mortgage as I can. Being the market the way it is, there is negative equity in the home.

    We used my VA loan to purchase the home and both our names are on the mortgage. Once she volunteered to leave she stop paying mortgage as she should have. I cannot have her name off the lease until the divorce is final and I have explained that to her.

    I guess she is under the impression that she deserves money from the home although there is nothing to be made if we sold it.

    Is this correct or I am missing something?

    Should I go ahead and obtain legal services?

    thanks

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default Re: Negative Equity in the Marital Home

    Quote Quoting thehardway
    View Post
    My question involves divorce in the State of: NC

    I made the decision to get a divorce late last year and my wife agreed to leave as she could not afford the mortgage as I can. Being the market the way it is, there is negative equity in the home.

    We used my VA loan to purchase the home and both our names are on the mortgage. Once she volunteered to leave she stop paying mortgage as she should have. I cannot have her name off the lease until the divorce is final and I have explained that to her.

    I guess she is under the impression that she deserves money from the home although there is nothing to be made if we sold it.

    Is this correct or I am missing something?

    Should I go ahead and obtain legal services?

    thanks
    Although you may want to remove her from the deed that could be a reason for a loan default. Since you are both on the mortgage, you will need to contact your loan servicer to see if they will allow her to be removed off of the deed.

    1. Sponsored Links
       

Similar Threads

  1. Property Division: Negative Equity Marital Home in Michigan
    By bigredjd in forum Divorce, Annulment and Separation
    Replies: 2
    Last Post: 02-03-2011, 04:17 AM
  2. Property Division: Negative Equity in a Home, Residing in a Comunity Property State
    By BloodyJack in forum Divorce, Annulment and Separation
    Replies: 2
    Last Post: 11-05-2010, 11:31 AM
  3. Property Division: How is Negative Equity in Home Handled in Divorce
    By Trying to survive in forum Divorce, Annulment and Separation
    Replies: 2
    Last Post: 06-23-2009, 10:32 PM
  4. Property Division: Negative Equity in Home - Divorce
    By GRANDMA62 in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 02-26-2009, 04:45 PM
  5. Divorce: Garnishment / Equity in Marital Home
    By moysgirl30 in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 07-06-2005, 06:39 PM
 
 
Sponsored Links

Legal Help, Information and Resources