Posted on: 01st Sep, 2010 10:30 am
i sold a house to a couple. they are very behind on payments. we haven't foreclosed because of their little children. however, husband wants out and has signed deed in lieu of foreclosure. however, his wife is in jail on drug charges and is not cooperating. what steps can we take. they are not divorced. can he sign for her?
He cannot sign for her unless she provides him with Power of Attorney. There is a possibility, of course, that he could pursue a legal action that would eliminate her ownership of the property, but it would seem fruitless to even mention that to someone whose finances are currently in an uproar anyway. Could he even afford to take such a step?
I don't see much in the way of a resolution other than your taking the next step, which is the foreclosure action you alluded to.
I don't see much in the way of a resolution other than your taking the next step, which is the foreclosure action you alluded to.