Posted on: 21st Dec, 2008 01:16 pm
i signed a quit claim deed in my divorce from my ex-wife and in the divorce papers gave her 2 yrs to refinance. however since i remarried, she has let the house go into forclosier twice and now has 30 days to vacate before the finance co swoops in and takes it. she refuses to sign the deed back over to help us help her save the house and our credit. i owe more than 80,000 on this place which isn't even worth that amount in todays market. she is demanding 30 percent of a sale which will never happen in order to sign the deed back over. is there anything we can do in court to get the deed reversed? it is allready in imminent forclosier.
Hi jamesjoanne!
Welcome to forums!
You have mentioned that - "she has let the house go into forclosier twice and now has 30 days to vacate before the finance co swoops in and takes it" - Wasn't the property sold when the foreclosure was declared?
Moreover you credit must have been ruined due to this foreclosure sale if she hasn't refinanced the property. I don't think deeding back the property will be of much help to you. Moreover, if the lender forecloses the property, he will sell it in the market and recover his debts. In case if there is an excess amount from the sale of the property, then he will will return it to the borrower. So I did not understand why she is demanding the 30 percent of the sale from you. In my opinion, you should immediately consult an attorney take his/her advice in this regard.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You have mentioned that - "she has let the house go into forclosier twice and now has 30 days to vacate before the finance co swoops in and takes it" - Wasn't the property sold when the foreclosure was declared?
Moreover you credit must have been ruined due to this foreclosure sale if she hasn't refinanced the property. I don't think deeding back the property will be of much help to you. Moreover, if the lender forecloses the property, he will sell it in the market and recover his debts. In case if there is an excess amount from the sale of the property, then he will will return it to the borrower. So I did not understand why she is demanding the 30 percent of the sale from you. In my opinion, you should immediately consult an attorney take his/her advice in this regard.
Feel free to ask if you have further queries.
Sussane