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sam - May 14th, 2005 7:18 PM

I was divorced and received the house,married again,lost my alimony, and can no longer make the house payments. What happens if the house goes into forecloser does it affect my new husband in any way


Fred - November 27th, 2004 3:43 AM

This is a bad move for all parties. Though a QCD will cover the transfer of title at a later date, the loan will remain with your relative unless you re-purchase with your credit during the QCD transfer. This combined transaction can run you additional closing costs and depending on how much value the home has when first purchased, could run you in a negative equity situation which may require additional funds. I recommend you consult a local divorce attorney for proper guidance and also to see if you have "seperation" relief from the 50/50 so long as the divorce action has been filed. Some states will disregard assets from the time your divorce was filed if it was in the "cooling off" period.


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