Divorce Advice for Men | Fathers Rights Divorce | Child Custody

Question:

I was awarded the marital home in the divorce that is currently worth less than what we purchased it for.

My divorce decree states that I need to refinance or sell the home or I owe my ex an additional sum of money.

I am unable to sell or refinance because the home is so upside down, and if I foreclose on the property, my ex-wife says she will sue me for ruining her credit score.

What options are available to me for dealing with the marital home?

Now is a great time to refinance and consolidate debt since interest rates are so law. But there are dangers involved.

Financial adviser Dan Danford explains why many debtors seek the debt consolidation route in order to pay off several debts by taking on just one new - albeit large - debt.

Danford, CFP®, CRSP®, MBA, also addresses how debt consolidation can negatively affect your credit score.

Financial adviser Dan Danford answers a personal finance question from a Money Made Easy viewer about refinancing the marital home:

"My wife and I are looking to refinance our marital home. Both of our names are on the deed to the house but only my name is on the mortgage. So would both of us have to supply financial information or will only mine be required?"

Danford, MBA, CRSP, of Family Investment Center, explains how to understand the transaction from the bank's standpoint and how you should negotiate with your lender when refinancing.

Financial adviser Dan Danford answers an unfortunately common personal finance question given the state of today's economy:

"I imagine I'm like a lot of people in today's economy with my marital home being upside down in value. Is there a way to refinance my house even though the value is upside down?"

Danford, MBA, CRSP, of Family Investment Center, explains refinancing a home and mortgage that is upside down in value.

Question:

When I divorced, my wife was supposed to refinance the marital home because the house was hers even though my name was still on the loan.

She has yet to refinance the house so I cannot get a loan for anything.

Is there a legal way to get my name off this loan?