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Found 2 results

  1. I owned a home with my ex, and during divorce in 2006, I quitdeeded the house and sold my half to him because he wanted to keep it. Divorce docs required him to refi to get my name off the mortgage and equity line, but he didn't. Fast-forward 1 year - he defaulted and it went into foreclosure. After producing my divorce docs, the banks told me they wouldn't pursue collection on me, but that it would still affect my credit. I dealt with 7 years of bad credit and denied leases/loans, and FINALLY it ended last year. Except, now I just got a 1099c for the equity line saying I have to claim the "forgiven" amount as income. My ex no longer works because he can't hold down a job, and lives with his family, so I'm concerned that they'll come after me for all of the taxes owed on this "income". I've done a little research into statute of limitations on debt and limits on sending a 1099c on an old debt, and I can't find anything clear. I'm hoping to be able to prove the 1099c was sent too late to hold me liable because I think it'll be easier than using my divorce docs to claim I'm not liable. I just don't know enough to know where to go and what to do on all this, and I don't have the money for a tax lawyer for, at minimum, $200/hr. Help!!
  2. The ex-husband was awarded the marital property in the divorce decree. The mortgage deed contains the name of the husband and the wife. The mortgage loan was under the name of the wife ONLY. More than 3 years has past and the ex-husband announced 2 weeks ago that he has built another house in another county and the marital property is about to go through foreclosure. Again, this mortgage loan is in the ex-wife's name ONLY. The collection agency has apparently been searching for the ex-wife but no communication has yet been made. Until two weeks ago, she was not aware that the property was in collections. All correspondences have been to the property address even though it was addressed to her. Nothing was ever given to her to advise of the situation prior to two weeks ago. It is understood that the mortgage company has compiled a large amount of fees and penalties associated with the bad debt. The rumor is that this group of investors buy bad debt, sues for everything they can get from the debtor, forecloses on the property to obtain some insurance policy, and then resale's the property at the market value. The ex-wife would not object to paying off the balance on the loan to save her credit but the collection agency does not want to talk with her unless they get all of her personal information first. The questions needing answered are as follows: 1) What are the laws associated with the Ex-husband not transferring the debt to himself and abandoning the property even though the divorce decree was clear that this was his responsibility? 2) Is there anything more than contempt of court that the ex-husband can be held responsible for? 3) What type of lawyer should the ex-wife hire? 4) Can the new husband be held liable for any of the debt from the previous marriage and this foreclosure process?