Posted on: 18th Dec, 2008 11:23 am
I am going through a divorce. I am 3 months behind on loan payments. I am on the mortgage but not the loan. I was not married to my husband when we purchased the home. My husband has told the mortgage company to not speak to me about his loan. I am on the mortgage/deed. I would like to try forbearance, how can I work with the lender if I am not on the loan but on the mortgage?
Hi Renita:
Sounds like you are experiencing the same kind of problem I am currently dealing with. From what I can gather from your post you are on the deed but the loan is in your husband's name. If that's the case your husband can call all the shots including preventing the mortgage company from talking to you about the loan.
You need to do a few things very quickly if you are going to save your home. First, if there is any way possible, pay the arrears and keep the home out of foreclosure. Once the home goes into foreclosure it is going to be nearly impossible, without the cooperation of your husband, to do a work out plan. As long as the payments are current and stay current, the mortgage company doesn't care who is paying.
Second, especially if your husband is being vindictive and not paying the mortgage so you lose the home (like mine) you will need a court order ordering him to continue paying the mortgage payments. This is called a Pendente Lite order and orders him to keep paying the things he was paying before the divorce started until the settlement of property and such can be negotiated. I would also recommend you request the court grant you power of attorney to discuss the loan and make arrangements with the mortgage company ASAP. Arrangements to catch up on payments are easier to negotiate with the mortgage company before the home goes into foreclosure.
Even with all this, your husband (like mine) can ignore the Pendente Lite order and ultimately can call all the shots when it comes to the mortgage. (Mine signed a loan modification agreement, I made 2 payments on it then he cancelled the agreement and there is nothing I can do according to the mortgage company).
Even if your soon to be ex is not giving you a hard time right now, that doesn't mean things won't get ugly later. Presume they will. It took so long for the family court to enforce the Pendente Lite order that by the time my husband got thrown in jail and I actually received a decent amount of money to send to the mortgage company, the home had already gone into foreclosure. By the time I got the power of attorney, the issue had gone to summary judgement and the court had approved a sheriff's sale.
The power of attorney is limited because even though, technically, I can make arrangements with the bank, according to them, any kind of loan modification has to be based on my now ex's income. So even if I have the right to sign a loan modification on his behalf, he still has to cooperate by providing information about his income to them to see if he is eligible. (He probably wouldn't be now because a large chunk of his income comes to me in the form of child and spousal support which was ordered to, ironically, be enough to cover the mortgage payments!).
At this point, the only way out is to pay all the arrears including late fees and attorney fees that were incurred by the mortgage company for filing the foreclosure, which is in the region of $14,000. This would bring the mortgage current then I could continue making monthly payments and there is not much more my ex could do to stop this from happening.
Believe me, this is like a nightmare I can't wake up from. I have been fighting for a year and I am refusing to give up. I feel I MUST have some rights to save the home that I live in with "our" 6 year old daughter (Yes, he is such a ..... that he would see his own child on the street) regardless of who technically owes the debt. The only good thing is that my credit has not been affected by this whole thing.
So, if you have to beg and borrow to bring the mortgage current, DO IT. Keep making the payments and, hopefully, you won't have to go through the hell I am going through. Good luck!
Lorraine
Sounds like you are experiencing the same kind of problem I am currently dealing with. From what I can gather from your post you are on the deed but the loan is in your husband's name. If that's the case your husband can call all the shots including preventing the mortgage company from talking to you about the loan.
You need to do a few things very quickly if you are going to save your home. First, if there is any way possible, pay the arrears and keep the home out of foreclosure. Once the home goes into foreclosure it is going to be nearly impossible, without the cooperation of your husband, to do a work out plan. As long as the payments are current and stay current, the mortgage company doesn't care who is paying.
Second, especially if your husband is being vindictive and not paying the mortgage so you lose the home (like mine) you will need a court order ordering him to continue paying the mortgage payments. This is called a Pendente Lite order and orders him to keep paying the things he was paying before the divorce started until the settlement of property and such can be negotiated. I would also recommend you request the court grant you power of attorney to discuss the loan and make arrangements with the mortgage company ASAP. Arrangements to catch up on payments are easier to negotiate with the mortgage company before the home goes into foreclosure.
Even with all this, your husband (like mine) can ignore the Pendente Lite order and ultimately can call all the shots when it comes to the mortgage. (Mine signed a loan modification agreement, I made 2 payments on it then he cancelled the agreement and there is nothing I can do according to the mortgage company).
Even if your soon to be ex is not giving you a hard time right now, that doesn't mean things won't get ugly later. Presume they will. It took so long for the family court to enforce the Pendente Lite order that by the time my husband got thrown in jail and I actually received a decent amount of money to send to the mortgage company, the home had already gone into foreclosure. By the time I got the power of attorney, the issue had gone to summary judgement and the court had approved a sheriff's sale.
The power of attorney is limited because even though, technically, I can make arrangements with the bank, according to them, any kind of loan modification has to be based on my now ex's income. So even if I have the right to sign a loan modification on his behalf, he still has to cooperate by providing information about his income to them to see if he is eligible. (He probably wouldn't be now because a large chunk of his income comes to me in the form of child and spousal support which was ordered to, ironically, be enough to cover the mortgage payments!).
At this point, the only way out is to pay all the arrears including late fees and attorney fees that were incurred by the mortgage company for filing the foreclosure, which is in the region of $14,000. This would bring the mortgage current then I could continue making monthly payments and there is not much more my ex could do to stop this from happening.
Believe me, this is like a nightmare I can't wake up from. I have been fighting for a year and I am refusing to give up. I feel I MUST have some rights to save the home that I live in with "our" 6 year old daughter (Yes, he is such a ..... that he would see his own child on the street) regardless of who technically owes the debt. The only good thing is that my credit has not been affected by this whole thing.
So, if you have to beg and borrow to bring the mortgage current, DO IT. Keep making the payments and, hopefully, you won't have to go through the hell I am going through. Good luck!
Lorraine
reading this is very scary for some it just reminds us to be careful.
TRYING TO GET STARTED WITH A CLEAN SLATE BY HAVING PASS DUE AMOUNT ( 5 MONTHS PAYMENT ) ROLLED INTO MORTGAGE OR FORGIVEN AND STARTING WITH REGULAR MONTHLY PAYMENT IN AUGUST 2010.
Hi CLYDE,
It will be completely your lender's discretion whether or not he would forgive the delinquent amount or roll it into your mortgage. You need to contact your lender and apply for a loan modification. The lender will go through your financial situation and let you know whether or not your request will be accepted.
Thanks,
Jerry
It will be completely your lender's discretion whether or not he would forgive the delinquent amount or roll it into your mortgage. You need to contact your lender and apply for a loan modification. The lender will go through your financial situation and let you know whether or not your request will be accepted.
Thanks,
Jerry
i want to call mortgage company negotiate a deal on my first mortgage an pay cash i owe 48000 but its worth 15000 i want offer them 20000 to 25000 for it
Hi rod,
It will depend upon the lender whether or not he will be ready to settle the mortgage for the amount that you have mentioned. You can definitely speak to the lender about the settlement of the mortgage but it will be his discretion whether or not he will agree to it.
Thanks
It will depend upon the lender whether or not he will be ready to settle the mortgage for the amount that you have mentioned. You can definitely speak to the lender about the settlement of the mortgage but it will be his discretion whether or not he will agree to it.
Thanks