Posted on: 12th Feb, 2011 06:32 am
Although my name is not on the mortgage - my ex husband's name is on the mortgage - Wells Fargo put me on a temp modification plan that lasted over a yr - I made the payments and went thru 2 modification processes both modification request were denied because I am not the borrower. Which is fine & I will be looking for a new place to live shortly. However, my name is on the deed & thru the divorce my ex quit claim deeded the home to me & now his name is completely off the deed. My question is how will this effect the deed in lieu of forclosure process since this is now an option that the WF attorney is offering. How can my ex - the borrower do a DIL if his name is no longer on the deed. Also would WF make my ex try a short sale before accepting DIL? Any advice would be appreciated. Thank you
hi rlg,
as the ex-partner's name is still mentioned in your mortgage docs, he or she might go for the deed in lieu of foreclosure. the attorney may ask your ex to go for a short sale before going for a deed in lieu of foreclosure.
as the ex-partner's name is still mentioned in your mortgage docs, he or she might go for the deed in lieu of foreclosure. the attorney may ask your ex to go for a short sale before going for a deed in lieu of foreclosure.