mortgage refinance and divorce???

[ladybuggb2]

My wife and I are going through a divorce. We have no children but own a house together in California that I agreed to let her keep. She has been living there since we separated in Oct. 2006. The divorce is going to be finalized in Sept. of this year and the divorce papers state that she must refinance by the end of July in her name only. I recently found out that she is having a hard time refinancing due to her credit situation. If she is in fact unable to refinance where does that leave me? If the house goes into forclosure will my credit be ruined for the next 7 years or will the court automatically obsolve me of the mortgage responsibilty if she does not refinance by the time the papers say that she must? Any help would be greatly appreciated as I am getting mixed messages from my paralegal and mortgage company. Thanks for taking the time to read this.

[annjd]

If two or more owners cannot agree on what to do with a piece of property or cannot get financing etc--they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the property obligation and/or the other(s) may keep it etc.--it is often done--

You should force her to act before foreclosure or you will have your credit affected.