Hello,
I am hoping someone here can help me out before I have a nervous breakdown!
I am a divorced with 4 kids....I've been divorced for 9 years. 14 years ago, before we were divorced, we bought a home. The actual title/deed to the house is in my name only. I used my VA loan as my ex had already used his and had not sold the property he had used it for. The VA approved my loan request and we found ahouse within our price range. He co-signed the loan and it is still on the loan. Even tho he does pay minimal child support...which I do not contest because he does carry their insurance, pay for the braces, car insurance, cell phone ect.
After 9 years...I can no longer afford this house and its become a nightmare for me. I am tired of going to bed at night and wondering if I'll be able to feed my kids next month. I have consulted with a real estate agent and she is confident she can get me a good price. I can finish school with the money I will make from this sale and get my Masters so that I can take control of my life and better take care of my kids. For once , in 9 years I will be able to sleep at night.
Now for the problem. My ex is saying he will not sign anything and that I need his permission to sell. My agent is saying I do NOT need his permission as his signature is on the bank loan only which will be paid off at closing and that because the actual VA loan was mine and mine alone. Who is right? I want SO badly to be excited about this and get ready to begin to put my life back together but I am so scared that I am lightheaded. I can in no way afford a lawyer, unless my kids suddenly stop needing to eat.
One other thing...in our original divorce decree...it states that if I cannot afford to refinance...in order to remove his name from the mortgage...that I should sell and that I would keep any proceeds from the sale....problem is...it also states that this should have been done BY 2002....it wasnt of course. I could not afford to refinance and he didnt force the issue and had no problems with it...until now.
I appreciate ANY and ALL advice!

Talk to your attorney.

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My vote for "Greatest real estate agent in the world" contest.

In IL you only pay the real estate attorney at closing (it can come out of your sales proceeds). It is not a lot of money, averages about $300-$350. If you sell you will need an attorney. You should ask your real estate agent to suggest an attorney that you can ask questions of over the phone without charge & then use that attorney for your sale.

I work with an attorney that does help me with some clients & sometimes these clients do not use the attorney (because they don't buy or sell). But I've worked with him for over 20 years & he'll do me a favor when I need him to. Hopefully, your agent can give you an attorney that will do the same.

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Southwest Chicago Suburbs Real Estate is an affordable area with close access to downtown Chicago. Money Magazine says that Orland Park real estate is one of the best places to live in the U.S.

What state / city are you in?

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This seems like a no-brainer but I'm not an attorney and this in no way can be construed as legal advice. Having said that, you say the title is in your name only? The note and the deed of trust are two separate entities. While the note binds you to pay while you own the property, the title is what determines ownership of the property. If you "own" the property, then you should not need the permission of the person holding the note with you. Unless there had been a court ordered change in title, I can't imagine how this could change - especially if you are making the payments on the note.

There are plenty of legal agencies that provide pro-bono work and in your scenario, you sound like you are a likely candidate to receive these services. Check with your local county/city social services Bring all of your paperwork (all papers signed at closing - which the settlement company should have if you don't) and your divorce papers.

As for expenses to sell, have your agent give you a seller's net sheet based on an estimated date of sale and a worst-case scenario price in your market. This will make you feel better that if you accept an offer at "$X", you will likely receive "$ABC" in return.

Hope this helps and God Bless!

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Irene Morales Ward, Realtor
Northern Virginia Real Estate
RE/MAX Absolute