My ex-husband and I purchased a home together in '93. We divorced in '98. He decided to stay in the house and took out a second to pay me off. I purchased a home in 2000. Now, one year later I am trying to get a car loan or home equity line of credit. The lenders keep telling me they cannot give me a loan because I have two mortgages showing up on my credit report. The divorce has been final for two years and we did a quick deed on the house. I was told by the lender that I cannot be taken off the loan and that if my ex-husband defaults that I am responsible. My ex-husband will not be selling the house nor will he refinance. What recourse do I have?

-- Lura Lalomio (ltothe3rd@yahoo.com), May 14, 2001

Answers

The only answer is to get him to refinance in his name alone. The lender will not let you off.... been there... ex let the house go to foreclosure after I'd been gone 4 yrs... I did not know till it was too late..... ruined my credit for 7 years, could be as long as 10 yrs. Unfortunately, your divorce lawyer did not watch out for your best interests.

-- Annie Simms (AnnieSimms@yahoo.com), July 03, 2001.