Jump to content

Recommended Posts

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?

 

Link to comment
Share on other sites

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?

Need a bit more information to better help you.

The ex-husband was award the house in the divorce. . .

What did the divorce say about who is responsible for the existing debt of the house?

Was the ex-husband ordered in divorce decree to get new financing for the house?

Did the wife transfer/remove her name off of the title?  i.e. "Quit claim Deed" her interest in the property to the ex-husband?

 

Whoever, is listed in the chain of title of a property has an interest in it, until is it released or surrendered.

That is why during a foreclosure, all documented, titled, deeded,  parties(filed in court house)can save their interest by paying the debt. 

However, they only save their interest in it.

So, the wife's name never came off the title, legally, she would have a vested interest to save the property.

As well, the ex-husbands name is on the title, and he has a vested interest as well.

But remember, if you paid for the house in full right now...anyone on the title that has NOT released their interest, still has interest in the property.

Obviously 2 things went wrong...the ex-husband didn't get the financing that he should of, and the wife didnt release her interest in the property which she should of. (according to divorce order).

3 years went by and in that time frame, your ex-husband never contacted you about refiancing.

In order to refiance he would need to get release from the ex-wife.

So, noone made payments for 3 years?

 

To try to make a long story short:  Simple way....

If the wife is willing to save the house and her credit and pay the balance.

Then she needs to confer with the ex-husband to get the title part straightened out.

The wife could have the ex-husband release his interest in the property to her.

 

I imagine the ex-wife would have legal basis to go after the ex-husband for payments he did not make, and also no refianance.

Also, he is in contempt if an order was made for him to refianance and he didnt.

But also, the ex-wife should have released her interest in the property as well.

Also, the ex-wife should have notified the lender of her change of address, until the ex-husband got new fianancing.

 

I would STRONGLY suggest that the WIFE go to a title company and have them do a title search to make sure that noone else has been added to the title in the last 3 years !!!  Other loans could have been taken out on the property without your knowledge.!

I would do this BEFORE going any further with any of it.

You could also hire an attorney who specilizes in properties.

 

As far as the wife saving the house and her credit with a Junk Debt Mortgage Buyer...

I would definately research and try to use Show Me the Note.

Really not much different that the JDB CC buyers, defendants biggest defense is SHOW me you OWN it.

In this case here...the collection agencey HAS to PROVIDE the ORIGINAL LOAN PAPERS WITH YOUR SIGNATURE!

You can google show me the note, or provide the note..there is much info on it as a defense.

Here is one link below:

SHOW ME THE NOTE!

You may/could actually end up with the property for free... :-)

 

I don't believe the new husband can be held liable for this debt.

Personally, I would hire a Real Estate Attorney. Especially that you are considering paying the debt.  I would want someone who specilizes in that field so you don't have a title NIGHTMARE ! 

As far as the ex-husband goes...going after him is another matter.  May take longer time than you have right now to save the house and your credit.  But I'm sure there are ways you could go after him in whole or part of what is happening with the property.

 

Hope this helps..

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.