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What happens to my house on diverce settlement?

Fresno, CA |

the loan is in both of our names... can he demand that loan is refinanced in my name?

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Attorney answers 4

Posted

Can he demand it? Yes. Is it reasonable given the facts of your case? I don't know since you haven't stated a full description here as to all of the issues in your case or any agreements that you've made in writing. I'm sorry that you're going through a divorce. Both parties have certain rights in a divorce, not the least of which is financial responsibility and a fair distribution of assets.

My suggestion would be to hire a family law lawyer in your area to represent you as to all of the issues in your case. A comprehensive answer, even if you gave a complete description, would be tantamount to legal advice and Avvo answers are intended to be general in nature.

Posted

Either one can be awarded the home. The home can be ordered sold. During theses tough economic times if the home is upside down meaning more is owed then the fair market value, there are a myriad of alternatives. There could be a deed in lieu of foreclosure, short sale, bankruptcy etc. That is why what Ms. Johns said is so true.You must consult with an attorney to talk about your options. He can ask you to refinance if you are granted the home but that does not mean you will qualify for a loan. Good luck.

IF YOU FOUND THIS ANSWER "Helpful" or " The Best Answer" YOU CAN THANK ATTORNEY RADDATZ BY MARKING IT SO because Avvo awards the attorney points. MS. RADDATZ is donating her time and talent by answering questions to help those in need of legal information. This is NOT a consultation and in no way creates an attorney-client relationship. YOU SHOULD ALWAYS PERSONALLY CONSULT WITH AN ATTORNEY IN YOUR LOCAL AREA who has specific expertise in the area of law you are asking about.

Hillary Johns

Hillary Johns

Posted

Thank you Ms. Raddatz.

Posted

This is an extremely complicated question and there are no clear answers. It will depend on the evaluation of the entire financial picture for the family, including the ability to pay the obligation. Also, much would depend upon the judge's attitude as it would be a matter of judicial discretion if you were to go to court. You should talk to a family law attorney about your options.
In order to obtain more information about the divorce process and your divorce options, you should consider attending a Divorce Options workshop, if one is available in your community. If you are in Fresno, it is given on the second Saturday of each month at the Ramada Inn from 9 am to 1 pm. The cost is only $45. For more information about the Divorce Options program, go to divorcefresno.com or cpcal.com.

This response is not intended to create an attorney-client relationship nor constitute legal advice. You should consult with an experienced family law attorney concerning your question.

Posted

I agree that the question evokes a complicated answer, which requires more facts regarding your circumstances. I would recommend talking with an attorney in your area regarding your options. I am in Fresno, Ca. and would be happy to speak with you, should you contact my office.

The answer is based upon the limited information provided and does not create an attorney-client privileged relationship.

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