I recently divorced in 2011 and divorce awards a jointly owned and mortgaged home to my ex-husband. He is required to refinance in 1 year or I can bring it back to court. My ex plans to foreclose/short sale home if bank doesn't refinance. Bank will probably not refinance due to his other debt and I was the main source of income.
Now I am in contract on a house and for my loan to go through, my underwriter is requiring me to quit claim deed on my old house. The judge said I can buy a new home with my divorce decree and same with my loan officer. But the underwriter won't let my loan go through unless I have a quit claim deed.
Should I quit claim deed? I will have no ownership. If I bring the house back to court if my ex doesn't refinance, how will I have ownership rights to sell?
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