Q: Can a mortgage be refinanced against divorce decree agreement with both parties in agreement to do so?
Decree says I get the house once I'm financially able to refinance. Ex decided he wanted the house and I agreed he can have it. He tried refinancing but was having issues because of the decree. Is there a way to change the decree?
A: Your Decree can be modified by stipulation provided both former spouses agree. I recommend that one of you hire a family law lawyer to assist with this modification.
Stephen M Vincent agrees with this answer
A: As mentioned above, the two of you can submit a Stipulation to modify the Decree, and the Court will likely approve it.
I do caution, however, if he cannot refinance the house, and if your name is still on the mortgage, you could be adversely affected if he defaults, including being responsible for the loan. The Decree and Amendment do not change the contract you have with the mortgage company. And even if he stays current in his payments, it may adversely impact your ability to buy a home of your own. That's why we always recommend that someone is going to keep the house, they must refinance. If they don't qualify for a refi, it should be sold.
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