Posted on: 24th Nov, 2009 02:01 pm
My ex-husband bought a house while we were living together in his name only in a community property state (ID). We got married. He got a 2nd mortgage without my consent. We got divorced. The divorce papers list the house as community property granted to him and give me a lien when it is sold. This is where it gets complicated. We lived together 2 more years and then unexpectedly he abandoned me and the house. He gave the house to investors without them getting a new loan. I ended up getting the house back and am the sole owner; living in the house the whole time and keeping the payments on his original loans mostly current until this spring. My question is--is the 2nd mortgage valid since he got it without my consent while we were married?
I am also having trouble making the payments, I just do not make enough. I have started working with housing counseling but I am afraid because my name is not on either loan I will not qualify for any of the new mortgage help programs. I need help getting a loan in my name combining both loans into one. I have equity and would not be upside-down.
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I am also having trouble making the payments, I just do not make enough. I have started working with housing counseling but I am afraid because my name is not on either loan I will not qualify for any of the new mortgage help programs. I need help getting a loan in my name combining both loans into one. I have equity and would not be upside-down.
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hi purple,
though your ex-husband got the second mortgage without your consent, it would be considered as valid. the property has been used as a collateral to get the loan and the second mortgage lender has the rights to collect the dues from the borrowers.
as both the mortgages do not have your name, the lender will not be able to sue you for the mortgage dues if he forecloses the property. moreover, your credit will not be affected. however, you would lose the property. if you want to save the property, it would be better to refinance both the loans into one.
thanks
though your ex-husband got the second mortgage without your consent, it would be considered as valid. the property has been used as a collateral to get the loan and the second mortgage lender has the rights to collect the dues from the borrowers.
as both the mortgages do not have your name, the lender will not be able to sue you for the mortgage dues if he forecloses the property. moreover, your credit will not be affected. however, you would lose the property. if you want to save the property, it would be better to refinance both the loans into one.
thanks