What can I do if I got a divorced last year and my ex-husband had 30 days to remortgage property and remove me from mortgage obligation but failed to do so?

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What can I do if I got a divorced last year and my ex-husband had 30 days to remortgage property and remove me from mortgage obligation but failed to do so?

I quit claim deeded the property to him. For whatever reason, he said he “couldn’t” and has had the property up for sale with a realtor. He got remarried several weeks ago and they secured a new home for themselves. In today’s market, the property is worth less than what is owed and his realtor wants me to sign a short sale third party authorization form (the mortgage company will not release me as the co-borrower on the mortgage). What should I do?

Asked on July 16, 2015 under Real Estate Law, Michigan

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Seek legal help and have the attorney review the documents provided to you and draw up a document that has him hold you harlmess for the contigency that may result from the deficit in the sale versus the mortgage and then sue him for the monies should you be sued. 


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