Posted on: 12th May, 2011 09:24 am
my husband and his ex wife had a home with a 2nd mortgage in the state of ga ~ during the divorce the bank agreed on a deed in lieu of foreclosure. this was almost a year ago and since the bank has sold the 2nd to a collection agency. both dollar amounts show on his credit as foreclosure from the bank. he is now receiving letters and calls from the collection agency ~ his ex took everything and he does not have a retirement and we live paycheck to paycheck. my greatest fear is they will garnish his pay and /or take our home.( he purchased a small home financed by a relative , but it is in his name. ) we can not afford an attorney and i am scared to death. the amount is $100k
You could always have the relative change the owner on title. Also, if a judgment was ordered against him, it is attached to him. I believe you would need to get a court order for garnishment. Try contacting a attorney for a free consultation. Many attorneys will explain your rights, in a free consultation. Are in in GA or CA, because you might have typed both.
Welcome vrfloyd,
If the court had ordered for a deed in lieu of foreclosure, then the lender should have gone for it. He shouldn't have charged off the loan. You can fight a legal case with the lender in this ground. As Chris has said, you should contact a lawyer for free consultation in this regard.
If the court had ordered for a deed in lieu of foreclosure, then the lender should have gone for it. He shouldn't have charged off the loan. You can fight a legal case with the lender in this ground. As Chris has said, you should contact a lawyer for free consultation in this regard.
