Posted on: 20th Mar, 2009 10:17 pm
My ex and I are divorced in status only. I moved out of the home 3 years ago and paying rent in an apt and he has been living in our home and paying the mortgage. Since I haven't been in contact with him for over 3 years he let the home foreclose. I was never notified of the proceedings or of anything. My credit was good but now terrible. I have a good stable career and make good money. My credit independent of his was good. Is there any way that a lender consider my credit history alone to qualify?
Your case was not liable for any reduction in credit if you are able to produce enough divorce proofs. You had to ensure a quitclaim before foreclosure in presence of attorney during divorce. Ok, now that you were not informed hence now your case seems to be genuine. It will be better to contact your lender and debate on your score and not lose your stand.
i don't see a real answer in that post, devidas.
from what she said, our poster indicated that there has been no actual divorce, but that she simply removed herself from the family home 3 years ago. "divorce proofs" and "quit claim" are clearly not available, and being informed or not being informed can't very well be documented, i would imagine. contacting the lender and debating a score isn't viable, either. lenders don't make up credit scores, and if the propery already went in foreclosure, that's a moot point.
to answer your question, guest, i'm afraid there's not much you can do but to try to document your situation as well as possible and provide as much proof that you can to a lender who might be sympathetic to your plight.
unfortunately, you're not likely to find any conventional or government lender who will listen these days. hard money lenders are about the only ones willing to work with a situation such as you describe.
from what she said, our poster indicated that there has been no actual divorce, but that she simply removed herself from the family home 3 years ago. "divorce proofs" and "quit claim" are clearly not available, and being informed or not being informed can't very well be documented, i would imagine. contacting the lender and debating a score isn't viable, either. lenders don't make up credit scores, and if the propery already went in foreclosure, that's a moot point.
to answer your question, guest, i'm afraid there's not much you can do but to try to document your situation as well as possible and provide as much proof that you can to a lender who might be sympathetic to your plight.
unfortunately, you're not likely to find any conventional or government lender who will listen these days. hard money lenders are about the only ones willing to work with a situation such as you describe.
yes we are actually divorced. I spoke to the foreclosing agent and certified letters were sent to the home in question but since I had not been living there my ex never disclosed to me nor my attorney that they were sent. Somebody signed for them. I make over 115K and have no credit card bills but a car payment. I have more money in my savings account than we ever did as a married couple. Would they consider me for a loan?
oh...i misunderstood the divorce aspect of your post.
as i noted in my last response, your likely option is with a hard-money lender or a portfolio lender. those are potential options, but even their offerings are limited, in terms of loan to value ratios and the like.
as i noted in my last response, your likely option is with a hard-money lender or a portfolio lender. those are potential options, but even their offerings are limited, in terms of loan to value ratios and the like.
My husband and I are getting a divorce. I want to move out of the house ASAP because I can't live with his disrespetful attitude. I've told him several months to sell the house because I was not happy with him, but he never listened. Now that we finally agreed to get a divorce, we might have to let the house go into foreclosure. Am I doing the right thing?
Welcome Guest,
Is your name on the mortgage docs? If yes, then a foreclosure would badly affect your credit report. It will lower your credit score by 250 points and also remain on your credit report for 7 years. Also, you won't be able to apply for a mortgage in the next 2-3 years. However, if your name is not on the mortgage docs, then the foreclosure won't affect you.
Is your name on the mortgage docs? If yes, then a foreclosure would badly affect your credit report. It will lower your credit score by 250 points and also remain on your credit report for 7 years. Also, you won't be able to apply for a mortgage in the next 2-3 years. However, if your name is not on the mortgage docs, then the foreclosure won't affect you.
guest, if you're looking to buy another property you should have an attorney for the process anyway. that said, it may be beneficial for you to request proof of service with regard to the foreclosure notices - especially if you can prove that you filed a change of address. even better if you notified the mortgage company directly and can prove it.
additionally, if there is any way that you can purchase a property for cash it may be easier for you to refinance after a cash purchase. george may be able to shed some light on that aspect.
misf, if you've got a divorce atty you may be able to figure something out as far as your future x buying you out of the property or simply giving up your rights to it. just make sure that you cya in all legal aspects whenever possible....
additionally, if there is any way that you can purchase a property for cash it may be easier for you to refinance after a cash purchase. george may be able to shed some light on that aspect.
misf, if you've got a divorce atty you may be able to figure something out as far as your future x buying you out of the property or simply giving up your rights to it. just make sure that you cya in all legal aspects whenever possible....
you need to take decion about it in your divorce. inform your lender about it as well