I know i can ask my lawyer but he's a minumum of $20 for a phone call. : )
So in our temp divorce order my ex has to pay our full mortgage payment. It states the amount but then says he can work towards a loan modifacation.
So my question is do you think that means he can pay say $400 less than the actual amount due?
No - it means he has to pay the full amount of the mortgage whatever amount it is until it gets modified.....that's how I would take it.
As long as he is paying the mortgage, he has to pay whatever it is. My ex pays the mortgage (it's in both our names) as part of child support. He wanted to refinance to reduce the payment, and I was happy to help. Do anything you can to make things work smoothly and show the ex you're not trying to fight.
If ex does not pay full payment he is in violation of the divorce order.
Even if he wants to work towards a loan modification he still needs to pay full amount because should they deny the modification you will be put into foreclosure.
I think you need to seek help ... it sounds like if this continues you all will end on the street due to him not wanting to fulfill the agreement.
Edit.....
I
\/
I went through the modification process.... sure I was given a lower amount that I was able to pay until a decision was made but if I was denied I would have had to pay all funds that was left immediately. If you want to see if they have given him a lower amount while he tries for a modification. I would call the mortgage company.
Until he has an official loan modification worked out with the bank with a signed contract, he's going to have to pay the full amount due for your mortgage. I would make sure that your lawyers know he's trying to screw around with the payments so they can make sure that he doesn't mess up your living situation and can take action quickly if he's not paying what he's supposed to.
What that means is he can try to modify the mortgage which if it is held jointly effects your credit as well as his. That would be why it is spelled out in the order. Otherwise he would not be able to modify anything held jointly.
Whether or not that means paying $400 less depends on the bank that holds the mortgage. I would call them.
call the mortgage company to find out how their mods work. some companys will only accept the modified amount during the initial period. but if it isnt approved you will have to pay the back amount. I worked for a mortgage company so i had these questions alot.
Well if the loan modification requires your mortgage payment to be $400 less then it is now, sure that's the amount he has to pay.Depending on the exact wording of your current agreement, if it just says 'husband will be responsible for the mortgage payment of the family home'.....$400 up or $400 down, he's got to pay it.
:)
No, unless those are the terms of an approved modification. I know that when we were going through the modification process, the amount of our trial/temporary payments WAS less than the amount shown on our monthly statement. They don't change your statement until a modification is complete. Just call the bank and ask.
Everything must be spelled out in the contract...
he has to ensure he's approved for loan modification - if he's not - then you are screwed...
A SET amount should be stipulated in the divorce agreement so there is no ambiguity...no gray area - no fine line....set amount with the indication that he can modify the mortgage (KEEPING YOUR NAME ON IT) and getting approved for loan modification..
GOOD LUCK!
No the full amount is absolutely due until he gets a statement after the loan mod stating a new amount. And the lender typically won't give you a courtesy call that anything is wrong - if he pays even $1 less than the full amount it will hit your credit almost immediately. They are brutal.
