Posted on: 18th Jun, 2008 01:20 pm
Hey Cliff,
Thanks for your response. Well, the ex is planning on selling the home eventually, or "just walking away from it".
What needs to happen for him to sell the home? Can I just sell it? Is a deed in lieu an option for me if he ever stops payments? I'm sure the bank could get more than is owed on it.
Bought it in 2001 for 100k with 16k of equity already (appraised at 116k). Put 5K down, and got a loan for 95k, which about 86k still owed.
What do you think?
Thanks for your response. Well, the ex is planning on selling the home eventually, or "just walking away from it".
What needs to happen for him to sell the home? Can I just sell it? Is a deed in lieu an option for me if he ever stops payments? I'm sure the bank could get more than is owed on it.
Bought it in 2001 for 100k with 16k of equity already (appraised at 116k). Put 5K down, and got a loan for 95k, which about 86k still owed.
What do you think?
Did I come to this post late? How can someone sell something if the title is in your name without your consent?
As Larry said a Deed in Lieu is an option to avoid foreclosure...it'll harm that all important credit rating less than an actual foreclosure but it is not to be used in another situation when you still have options.
If your name is still on title and also on the loan? Your best solution at this time may be to put the house on the market. :?:
As Larry said a Deed in Lieu is an option to avoid foreclosure...it'll harm that all important credit rating less than an actual foreclosure but it is not to be used in another situation when you still have options.
If your name is still on title and also on the loan? Your best solution at this time may be to put the house on the market. :?:
Divorce is UGLY and until all lose ends are dealt with it is hard to go on with life.
I agree with Larry sell the home while it has enough value to take care of the obligation.
Dont mess up your credit or your ability to buy in the future.
Good Luck
Brian
I agree with Larry sell the home while it has enough value to take care of the obligation.
Dont mess up your credit or your ability to buy in the future.
Good Luck
Brian
