Mortgage and divorce, now foreclosure

"My ex-husband was awarded the house and the mortgage, which is in both of our names. He has not been able to refinance and now the home is in foreclosure. I have not signed a quit claim deed because of the mortgage and am included in the foreclosure action. What are my rights? Thanks."

As your ex-husband was supposed to refinance the mortgage in his sole name you should inform the mortgage company about it.

Hi Sharon,

Welcome to Mortgagefit forum.

You are still named on the mortgage as well on the title of the house. As the mortgage was not refinanced you are still responsible for the payments and you can be included in the foreclosure action.

You should have approached the court earlier to compel your ex to refinance the mortgage even if rates he was getting were higher than normal. But now the foreclosure action has started and mortgage company holds the rights to include those who are named on the note.

Would a short sale be possible now? If it can be possible then you will be able to save your credit profile. You should contact your mortgage company and discuss the situation. Also make them aware of the divorce agreement that was made but never fulfilled. They would let you know if it would be possible to get you off the loan.

Colin

x-husband was not ordered to refinance - no mention of that at all from the judge - most likely because it was obvious it wouldn't happen. The mortgage co. is aware of the divorce but never offered any way out, so now I'll have to pay an attorney again to try to clear things up. Thanks for your help.

Sharon, as the mortgage was not refinanced you are still on the mortgage and as now foreclosure has started you have also been included in it.

One thing I did like to know is whether you are aware if there is any equity in the house?

Miller

There is equity, but I am not entitled to any of it as the house belongs to my ex. I don't know why he hasn't sold it and we do not talk to each other so that I can find out anything. The mortgage co. doesn't understand it either. Just a mess.

Sharon you must be aware that foreclosure will spoil your credit history. So for your own sake you need to take some steps (even it means get into talking terms with ex for some time) so that foreclosure can be stopped.

Miller

I have a protection order against him, so we can't communicate, but I wouldn't want to anyway. I know that the foreclosure will mess up my credit, and maybe that's part of his plan. I can only hope he will do something right before it's too late. Just thought I'd ask as there may have been something I could do.

Welcome Sharon.

Is it quite long ago that you were divorced? If not, then I think you can even now sign on the quitclaim deed. The court has awarded the house to your ex-husband, so your name shouldn't be on the title anymore. But even then, since your name is on the loan, therefore you will be going through the foreclosure.

One way to get out of it could be paying for a certain percentage of the outstanding balance, so that your husband can pay the rest. You can have a talk with your ex and also the lender. I know it's difficult but you need to try this out. May be it turns out good for you. Do let me know what's the situation after that and we can talk over again to come to a solution.

Thanks.

This site makes it very difficult to direct folks to "base" information locations but you might try a combination of "allregs" and "efnma" and looking in the selling guide under X 702.02 B and D to see if your situation might be included. Sorry to be so cryptic about the Internet location but that is this sites rules and you should be able to guess the "/" etc. Hey, it's their sandbox.

Not sure how a deed would fit in under lis pendis – almost certainly it would not get you dismissed from the suit. So the FICO issue remains. The "B and D" above are only a logical reasoning method to get you out of the debt ratio calculation and most underwriters would balk at this. Still they are a "published" source and you might try disputing with the national repositories. Never seen this done before and have no idea how this might work out on the FICO side but you don’t have too many choices.

"Sorry to be so cryptic about the Internet location but that is this sites rules and you should be able to guess the "/" etc. Hey, it's their sandbox. "

I can't agree with you Guest that Mortgagefit has some problem if any user provides a link to some useful website.

I myself give links for good references on any subject and haven't received any objection about it from the Mods here. If however it is some kind of pure promotional link then obviously it would not be allowed as is done in most other sites.

You can give a link to any website if it would be useful.

Miller

I tried again and the board will not permit any Internet links. Too bad since folks could go the the "public" Allregs site and get direct answers.

Again it's their sandbox so they make the rules.

Well I found one person mentioning a link in one post today, if you feel like giving any link you can also give it like that. Over here - http://www.mortgagefit.com/georgia/dreamhomeownership-program.html

Miller