buying a home

[kenomalley]

I reside in Pennsylvania.

My wife and I would like to buy a house.

My ex-wife has threatened to sue me for an unpaid loan.

My question is: can my ex-wife place a lien on a property that has both mine and my current wifes name on the deed?

 

[HomeGuru]

Sure she can once she gets a court judgement. Why not pay the loan or work out a payment plan. If ex sues, you may have some explaining to do with your mortgage lender.

 

[kenomalley]

This debt is related to a business that we both operated and benefitted from. I have attempted to set up a payment plan. Our disagreement is the interest %. I want 0 and she wants 10.

What is the legality pertaining to interest?

Ken

 

[HomeGuru]

She's cute so pay 10%.

 

[kenomalley]

Obviously you've never seen her..

 

[HomeGuru]

You're too funny.
That's not nice. Just for that the interest rate is now 18%.

 

[kenomalley]

Oh well....she's a good girl..her only mistake was meeting me.

On a serious note..am I required to pay interest?

 

[HomeGuru]

What do you think? If you had borrowed the money from a commercial lender, took out a home equity loan, refinanced a home mortgage, or used a credit line from your credit card, would you not be paying interest on the borrowed funds?
I believe you are not looking at this transacion as a true business one but rather letting personal issues influence your decision. After all, she is now your ex. What would you have done if you were still married with respect to this loan repayment on a purely business level?
Wake up little Susie.