j4gc
recently joined
Reged: 11/09/11
Posts: 1
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I got married to my wife in 2003, we have 6 years old so together, i was lving in an apartment before we got married, she own a home which she bought in 1999. After i moved into her house 2003. She did not want me to buy a new house, we split all the bills. I contribute abt 70%. She refinance the house in 2007 without my consent, she didnt declare in the refinance application that she is married, she signed as single, she did this so that i dont have my name on it. We divorcing now. is refinancing without my consent a crime in Texas, is this fraud, because she decleared single not married. what will happen to the property? if this a serious crime?
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javajunkiee
Carpal \'Tunnel
Reged: 06/01/08
Posts: 3158
Loc: SC
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Its not a crime to refi your own home, married or not. Unethical to not include you? Yes. Actual time in jail for doing it? Not a minute.
If the two of you can't agree on the disposition of the property a judge will order it sold. Usually a spouse is entitled to a portion of the amount of equity earned on the property for the length of the marriage. If there is no equity earned there is nothing to be paid out. Depending on other factors you may still be entitled to a financial settlement. You could also offer to take over the property and buy her out; if she's refi'd and the payment is too much for her on her own (you said you're already paying 70%), she may be open to the idea.
You may want to view the fact that your name is not on the mortgage paperwork as a good thing. If she doesn't pay the loan its her credit thats affected, not yours. Plus, if she's upside down on equity, she's fairly well screwed unless the market recovers.
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Marriage doesn't come with a money-back guarantee.
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