Am I still responsible for debts that have been refinanced
To whom it may concern,
My question is that, having got divorced inthe state of Arizona, I was or am required to pay half of the second mortgage on the home that we both shared and then was awarded to my ex-spouse in the divorce. Recently my ex-spouse refinanced the first and second mortgages into one. Technically paying off the second mortgage. She now has a new finance company to deal with. Am I now responsible for any part of this new loan, which I have no interest in at all. She never notified me that she was going to do this, as she doesn’t have to because the home was quit claimed over to her after the divorce.
Re: Am I still responsible for debts that have been refinanced
If you quitclaimed the house to her, she owns the asset 100%. If she refinanced the mortgage(s) in her name alone, she is 100% responsible for the debts (unless the court ordered you to maintain some responsibility for the debt).
Since she was awarded the house and you quitclaimed it to her, she did not have to notify you of the refi.
If you would like to discuss this matter further, please contact my office for an appointment (480) 732-9200.
Monica Donaldson Stewart
Donaldson Stewart, P.C.
3100 West Ray Road, Suite 115
Chandler, AZ 85226
Re: Am I still responsible for debts that have been refinanced
If the mortgage was assigned to her in the Decree of Dissolution, then it remains her sole and separate debt, even after the refinance. In fact, she has done you a favor by removing your name from any loan documents.
Do not hesitate to contact me with any further questions.
/s/ Rich J. Peters, Attorney
JON C. DAKE & ASSOC., P.C.
1422 N. 2nd Street, Suite 100
Phoenix, Arizona 85004
602.254.7251
602.254-1229 (facsimile)
see our web page at http://www.familylawaz.com
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