...don't trust your spouse...they are not doing things in your best interest!
So true...
My stbx tricked me into signing an Interspousal Agreement and quit claim deed on the day we bought our house.
I had a few blemishes on my credit report (about 500 debit) from rough times as a single parent before we met.
On the way to sign the papers for the house he told me we wouldn't get the house if I did sign the papers, but that afterwards when my credit was cleared my name could be added. I agreed.
*Fact* The only reason I would have had to sign the agreement and deed is if I had already been approved, this where I was tricked....the day we signed the house papers, is also the day I removed my name. I found this out when my house sold last November.
My name had been added 2 years into the house when we started a living trust for our children, the house was in the trust, I had no reason to doubt he could do anything with the mortgage. My name was on it, finally.
WRONG.....after we separated, before I filed for divorce, he used the interspousal agreement and/or quit claim deed to remove my name, he refinanced the house and cashed out over 120,000 in equity without my knowledge.
At the time we owed about 109,000 on a 15 year, with 890.00 monthly payments. The house was appraised at 450,000 when he refinanced.
We had a 2nd of 30,000 for his business, that was payed by his refinancing.
When I found out(days after he got the money), I filed for divorce, borrowed enough for a retainer and went after him.
After he was court ordered to sell the house (my name was no longer on the deed), he didn't follow through. The court ordered him to add my name, move out and I was ordered to move in, bring the house up to market value and sell it.
He had one month to move, mistake. During that month he did 60,000 in damage, but he was on the deed and could do whatever he wanted to the house, I had no case.
I again, borrowed the money to bring the house to market value. It took 5 months and 30,000. This was last fall.....the market dropped. I only was able to sell it for 360,000, he owed 280,000. I still had hope of enough money left over to move myself and the kids into an apartment, and buy a good used car...(mine was in his name and he reported it stolen) I didn't have one.
Less than 5 days before escrow closed I was told that I was 15,000 short to close. SHOCKED, HORRIFIED doesn't even began to express how I felt. He had let the house go into pre-foreclosure (I knew this, but was able to hold them off) and the loan had penalties and interest (no one but the stbx knew) for over 35,000. I was already broke and had to find another 15,000 to close the sale. My attorney, contractors, and receipts for supplies (borrowed money) had to be removed from escrow in order to close.
I was in more debit, my son had to move to his fathers in IN, my daughter joined the Air Force, and the daughter we had together ran away to live with dad...I had no money. I was homeless, that was last November, May 1st 2006 I finally saved enough to rent a house with some friends and I make over 400. a month in payments to pay off money owed for the repair of that house. I still don't have any of my kids back.....and the divorce is going to trial real soon.
So the moral of this story is "don't trust your spouse...they are not doing things in your best interest"!
pj
divorceinfo.com
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