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Title: How Possible to Be Co-Owner of New Home? Post by: Hope0807 on April 27, 2015, 12:11:23 PM Recently found out my exPDh is a co-owner on a new home…any ideas on how this is possible?
I found out by simply typing the address of his new place into google and it's public info. My ex is essentially unemployed. He does not report earned monies to the IRS, drops it all into his own personal banking account, and he's behind in mortgage payments on the marital home to the point that foreclosure proceedings have begun. I'm SO disgusted. Title: Re: How Possible to Be Co-Owner of New Home? Post by: ForeverDad on April 27, 2015, 02:10:18 PM Recently found out my exPDh is a co-owner on a new home…any ideas on how this is possible? I found out by simply typing the address of his new place into google and it's public info. My ex is essentially unemployed. He does not report earned monies to the IRS, drops it all into his own personal banking account, and he's behind in mortgage payments on the marital home to the point that foreclosure proceedings have begun. I'm SO disgusted. What are you dealing with here, financial issues, emotional issues or both? If just emotional, yes, it's galling. Clearly he used you and then just cut you out as though your marriage was nothing. If there is a financial impact, do you have a final decree yet? Does his co-ownership make a difference to the terms of the divorce or the short sale? If the divorce isn't final, then it would be easier to get this new information included through Discovery, if any of it makes a difference. At the very least, inform your lawyer so they have the information on file. It's possible that if he bought into the house (with his new GF?) then that may be where some of his cash income or 100K annuity went. Apparently this was before he listed for short sale? That's probably how his credit rating wasn't impacted yet when he got the mortgage. (Or is the mortgage in the co-owner's name and so he's not even responsible for the mortgage?) Title: Re: How Possible to Be Co-Owner of New Home? Post by: Hope0807 on April 27, 2015, 04:31:41 PM Financial and emotional. Although I don't think his name being on a home with someone else impacts me at this point financially, the mess he left behind DOES impact me both financially and emotionally. The divorce has been final for a few months. I don't know how one can get approved for a mortgage without proof of income, regardless of how much cash he came up with from his annuity. His name shows (as mine) being attached to another mortgage.
You make some good points. I'll contact my lawyer tomorrow and let them know. Recently found out my exPDh is a co-owner on a new home…any ideas on how this is possible? I found out by simply typing the address of his new place into google and it's public info. My ex is essentially unemployed. He does not report earned monies to the IRS, drops it all into his own personal banking account, and he's behind in mortgage payments on the marital home to the point that foreclosure proceedings have begun. I'm SO disgusted. What are you dealing with here, financial issues, emotional issues or both? If just emotional, yes, it's galling. Clearly he used you and then just cut you out as though your marriage was nothing. If there is a financial impact, do you have a final decree yet? Does his co-ownership make a difference to the terms of the divorce or the short sale? If the divorce isn't final, then it would be easier to get this new information included through Discovery, if any of it makes a difference. At the very least, inform your lawyer so they have the information on file. It's possible that if he bought into the house (with his new GF?) then that may be where some of his cash income or 100K annuity went. Apparently this was before he listed for short sale? That's probably how his credit rating wasn't impacted yet when he got the mortgage. (Or is the mortgage in the co-owner's name and so he's not even responsible for the mortgage?) Title: Re: How Possible to Be Co-Owner of New Home? Post by: GaGrl on April 27, 2015, 05:07:14 PM It's likely he isn't on the mortgage. One can be listed on the deed but not be a party on the mortgage. Your ex's co-owner could have had an existing mortgage, sold an interest in the house to the ex for cash, and then filed for a joint deed while doing nothing about the mortgage.
Title: Re: How Possible to Be Co-Owner of New Home? Post by: ForeverDad on April 27, 2015, 05:22:22 PM Or he could have conned the person into making him a co-owner without him investing very much. Depends how savvy - or clueless - that person is.
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