Posted on: 24th Mar, 2010 06:56 pm
my ex was court ordered to refinance a boat slip mortgage and pay me an undisclosed amount of money. he is now refusing to pay me the last bit of money and is going to walk away from the boat slip which the loan is in both of our names. he never attempted to refinance. he was awarded the boat and the boat slip in the divorce. what is going to me, as i have nothing, but am in the process of buying a home? i can't afford it the boat slip and have no interest in owning either one.
Hi Guest,
If your ex walks away from the boat slip, the lender will foreclose it if he does not receive the payments on time. This will have a negative affect on your credit report and will also lower your credit score. Thus, you may not be able to qualify for buying a property immediately after a foreclosure. You need to negotiate with your ex and convince him not to walkaway from the property.
If your ex walks away from the boat slip, the lender will foreclose it if he does not receive the payments on time. This will have a negative affect on your credit report and will also lower your credit score. Thus, you may not be able to qualify for buying a property immediately after a foreclosure. You need to negotiate with your ex and convince him not to walkaway from the property.