Mortgage Forum

Mike · April 15th, 2008, 03:58 AM

I have a home that thru a divorce I was awarded the home but I was also awarded that my ex pay the sum of 1550.00 until the resident property sells. It has been on the market with a realtor since may with no takers.

I have since bought another home prior to going in default on this home due to when I started inquiring about rental noone in my area was willing to except someone with a foreclosure and I don't have anywhere else to go I am a single mother with 2 children.

I have a stable job and i am paying my new mortgage on time but have been try to get the other property mortgage company to send me eithier the paperwork for a deed in lieu of or short sale paperwork and they have been very difficult also my ex husband is on this mortgage with me he has not paid try to pay or has any intention of paying any money.

I know this house is going to go to foreclosure and i know my credit is going to suffer but there is nothing i can do about it at this point there was no way for me to try to keep the home it was way to large and to expensive.

I live in Delaware and my concern is can they attach any liens on my new house since it is my primary residence and is there anyway I can avoid this my ex owns about 5 properties in CA and doesn't live in any of them could they really come after just me and my only house. Just looking for some answers if any one can help I appericate it.

Glenn Dorsey · May 8th, 2008, 07:29 AM

Hey. I'm not an expert on mortgages, but maybe I can help a bit.

First off, you situation is horrible. Divorce is always tough, but you are getting the short end of the deal here. Your ex has 5 properties in California, but he's doing nothing on paying your home note?? That stinks!

Yes, the mortgage company can attach a lien to your new home, if they do not recover the full amount of the loan in the sale of your former house, after it is sold at auction, following the foreclosure (they never collect the full amount of the loan in a foreclosure auction by the way). There really isn't much you could do about that. You are just as liable for the debt to the lender as your ex is, even if he's the one with a lot of assets. This is assuming that the home was/ is in community property.

I know you have had the property on the market for some time. Would it be possible to sell it at a much lower price, so that you collect just enough to pay off the mortgage on it? In other words, are you currently asking for more than the mortgaged amount? If you are, lower your price asap. Your goal is to get out of the loan/ home now, right?

Good luck to you!

Glenn

gtull1 · May 8th, 2008, 06:53 PM

You need to sell that home quickly pal! I think you are just as liable as your husband for the debt, and the last thing you need is some debt collector hounding you for life. Do whatever it takes to get rid of your house before the home goes through foreclosure!!

My 10 cents.

:O)

April 15th, 2008, 03:58 AM	#1
Mike Senior Member Join Date: Apr 2008 Posts: 648	in foreclosure I have a home that thru a divorce I was awarded the home but I was also awarded that my ex pay the sum of 1550.00 until the resident property sells. It has been on the market with a realtor since may with no takers. I have since bought another home prior to going in default on this home due to when I started inquiring about rental noone in my area was willing to except someone with a foreclosure and I don't have anywhere else to go I am a single mother with 2 children. I have a stable job and i am paying my new mortgage on time but have been try to get the other property mortgage company to send me eithier the paperwork for a deed in lieu of or short sale paperwork and they have been very difficult also my ex husband is on this mortgage with me he has not paid try to pay or has any intention of paying any money. I know this house is going to go to foreclosure and i know my credit is going to suffer but there is nothing i can do about it at this point there was no way for me to try to keep the home it was way to large and to expensive. I live in Delaware and my concern is can they attach any liens on my new house since it is my primary residence and is there anyway I can avoid this my ex owns about 5 properties in CA and doesn't live in any of them could they really come after just me and my only house. Just looking for some answers if any one can help I appericate it.

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May 8th, 2008, 07:29 AM	#2
Glenn Dorsey Junior Member Join Date: May 2008 Location: new mexico Posts: 18	Hey. I'm not an expert on mortgages, but maybe I can help a bit. First off, you situation is horrible. Divorce is always tough, but you are getting the short end of the deal here. Your ex has 5 properties in California, but he's doing nothing on paying your home note?? That stinks! Yes, the mortgage company can attach a lien to your new home, if they do not recover the full amount of the loan in the sale of your former house, after it is sold at auction, following the foreclosure (they never collect the full amount of the loan in a foreclosure auction by the way). There really isn't much you could do about that. You are just as liable for the debt to the lender as your ex is, even if he's the one with a lot of assets. This is assuming that the home was/ is in community property. I know you have had the property on the market for some time. Would it be possible to sell it at a much lower price, so that you collect just enough to pay off the mortgage on it? In other words, are you currently asking for more than the mortgaged amount? If you are, lower your price asap. Your goal is to get out of the loan/ home now, right? Good luck to you! Glenn

May 8th, 2008, 06:53 PM	#3
gtull1 Administrator Join Date: May 2008 Location: louisiana Posts: 41	You need to sell that home quickly pal! I think you are just as liable as your husband for the debt, and the last thing you need is some debt collector hounding you for life. Do whatever it takes to get rid of your house before the home goes through foreclosure!! My 10 cents. :O)

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