Posted on: 08th May, 2009 07:52 pm
We bought a new house and rented are old one out- Renters lost their jobs after a couple months- We were able to make payments for a bout 5 months but ran out of money so the house is going into foreclosure.
My wife is about to receive some inheritance money. Can they go after that money because were married ? Her name is not on the house being foreclosed and it was bought before the marriage
My wife is about to receive some inheritance money. Can they go after that money because were married ? Her name is not on the house being foreclosed and it was bought before the marriage
Hi Gues,
Is your wife a co-borrower of the loan? If her name is on the mortgage docs, then the lender can come after her money in case of a foreclosure. If her name is not on the mortgage and the property deed, then the lender would not come after her money.
Thanks
Is your wife a co-borrower of the loan? If her name is on the mortgage docs, then the lender can come after her money in case of a foreclosure. If her name is not on the mortgage and the property deed, then the lender would not come after her money.
Thanks
i believe that money will be safe. but of course if you receive it (she receives it) prior to the foreclosure you could save that house. obviously, it's your choice.
Gues have you look at options for refinancign and renttign ti again before the bank moves this in to forclosure?
Yes Ive tried renting it out but have had no offers.
We owe 85K and have the house listed for 40k and still have not had any offers. So No , theres not much chance of avoiding foreclosure.
Trying to at least do a short sale but there was a piece of paper on the door advising of a sheriff sale in a few weeks.
Soon as the neighbors seen that paper they stole everything in the yard they could get ahold of, rocks. hoses, firewood
We owe 85K and have the house listed for 40k and still have not had any offers. So No , theres not much chance of avoiding foreclosure.
Trying to at least do a short sale but there was a piece of paper on the door advising of a sheriff sale in a few weeks.
Soon as the neighbors seen that paper they stole everything in the yard they could get ahold of, rocks. hoses, firewood
Hi Gues,
The lender has started the foreclosure procedure. You should immediately contact the lender and apply for a loan modification to save the property. This will also help you in saving your credit.
The lender has started the foreclosure procedure. You should immediately contact the lender and apply for a loan modification to save the property. This will also help you in saving your credit.
Guest sorry to see you in that situation.
This situation is very bad . So try to give this house on rent or before foreclosure just save your house.you dont need to worry about monay its safe.
My advoice is try to take advoice from any expert or lawyer so that he can help you.
Thanks
My advoice is try to take advoice from any expert or lawyer so that he can help you.
Thanks