Home and debt


#1

We have recently separated but not yet filed or agreed to anything. My stbx has finally moved out and into an appt. Problem is I have now found out that he failed to pay our mortgage on time over the past 8 months and sometimes not at all. My credit is now terrible and I have also realized that he has us in a 10% interest only loan. Because he has moved out he is now saying he does not have to pay anything towards the home. I cannot afford it on my own. I cannot refinance due to the now very poor credit ratio and if I could I would go ahead and refinance with a quit claim deed to lower the interest rate at that point I could afford the home without any money from him. Any idea how I should or can move forward. Now is not a good time to sell and I am afraid that I will get so far behind in payments due to insufficent funds over the months it has not sold that I am now very worried. I cannot let him move back since we are going to divorce. He is claiming that he will only pay if I let him back in the home. Help please. I have no idea what direction to go in but I do know with the late fees now piling up I am spending money that should go towards my three kids.


#2

You need to file an action immediately which includes clams for post-separation support, temporary child support, child support, child custody, equitable distribution, and alimony. Your husband cannot simply walk out on the financial obligations of the marriage, and he owes an immediate duty of support to your children.
I do not recommend that you move forward with a refinance at this time, having your husband’s name tied to the debt is leverage you can use to your advantage.
I recommend that you schedule a consultation with an attorney to discuss your specific situation; you may even be entitled to an award of attorney’s fees.