Posted on: 10th Feb, 2011 10:56 am
i am in the process of a divorce. i made a few house payments but was receiving no money from him so i fell behind in payments. after he postponed the courts hearings for 4 months i finally was awarded child support and alimony and was given exclusive use of the house. i contacted wells fargo and explained the cause of the missed payments and they had me fill out forms for a loan mod. after everything was filled out and turned in they said they needed a quit claim deed or divorce decree or him to sigh loan mod docs. he refused to sign. when we went to court the judge said i had to secure a loan in my name or had to put the house up for sale. i couldn't get a loan because the loan was in default so now the house is up for short sale. i want the house. i'm forced now to take the loss on the house even though wells said i would qualify for a loan mod. my parents are willing to help me out so we can stay in the home but if i bring the account current his name will still be on the loan. do you have any idea on how i can keep my house?
Hi Cuttersbeauty!
Welcome to forums!
You can contact the lender and try to assume the loan. Once you assume the loan, then you can apply for a loan modification and save the property. However, it will be the lender's discretion as to whether or not he will allow you to assume the loan as it is in default.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can contact the lender and try to assume the loan. Once you assume the loan, then you can apply for a loan modification and save the property. However, it will be the lender's discretion as to whether or not he will allow you to assume the loan as it is in default.
Feel free to ask if you've further queries.
Sussane