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I signed a quitclaim on the house when I divorced my ex 4 years ago. He couldn't get my name off the mortgage, but I was tracking payments online and he was keeping up until he was thrown in jail for DUI a year ago. He was trying to sell the house at the time. I notified the realtor who was able to get the paperwork to him in jail to move to a short sell. Apparently the house hasn't sold, as I'm now getting calls from PNC (who holds the mortgage). It's probable that he hasn't made a payment for the past year.

I'm not able (or willing right now) to make any type of payment for the house. I realize the quitclaim means nothing to the bank since my name is still on the mortgage. My attitude about my credit rating right now is that the sooner they foreclose, the sooner the clock will start ticking for the years to pass until it falls off my credit.

So what can happen to me? Can they garnish my paychecks? Can they drain my bank account since I have a joint checking account with my new husband through PNC? How can I best protect myself (realizing I'm protecting myself from a situation I created by buying a house with him and refusing to pay the debt that is legally half mine)?
 

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I signed a quitclaim on the house when I divorced my ex 4 years ago. He couldn't get my name off the mortgage, but I was tracking payments online and he was keeping up until he was thrown in jail for DUI a year ago. He was trying to sell the house at the time. I notified the realtor who was able to get the paperwork to him in jail to move to a short sell. Apparently the house hasn't sold, as I'm now getting calls from PNC (who holds the mortgage). It's probable that he hasn't made a payment for the past year.

I'm not able (or willing right now) to make any type of payment for the house. I realize the quitclaim means nothing to the bank since my name is still on the mortgage. My attitude about my credit rating right now is that the sooner they foreclose, the sooner the clock will start ticking for the years to pass until it falls off my credit.

So what can happen to me?
Trash your credit, foreclose, take the house, come after you for the difference later.

Can they garnish my paychecks?
Not immediately. After they sell it and come after you for the diff, they can sue you if you don't pay, and then get a judgment and garnish. It'll be a long process.

Can they drain my bank account since I have a joint checking account with my new husband through PNC?
Is that the same bank? If so, yes. If not, no.

How can I best protect myself (realizing I'm protecting myself from a situation I created by buying a house with him and refusing to pay the debt that is legally half mine)?
Isolate you and hubby's finances from ex's mortgage completely - different bank, etc.

But ultimately you ARE liable for this debt. You signed the papers, and the quit claim does nothing to alleviate that.
 
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Can't add anything. Just (((HUGS)))

Greebo, Thanks for being here with the answers.
 
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