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Divorce/Separation Post Reply     Print Topic    
User Topic: can he get me off the mortgage while in forclosure?
torn2bits
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Member # 28376
Default  Posted: 5:39 PM, November 7th (Thursday), 2013View ProfileEdit MessagePrivate MessageHomepage

First, it would depend if your mortgage is in good standing I think. Mine is in foreclosure and no payments for 3 years.

We are both married to the mortgage until one of us refi's or the house is sold. I refuse to sign the quit claim because if by chance he brings the mortgage back into good standing and the house at some point has equity, I can get some of that money.

If not, and it does get taken by the bank, we are going down together. I asked him to work with me on solutions to save the house for our kids and he refused.

Quit claim gets them out of the house and no legal rights to the house. They are still on the loan.

I would be happy if I was in a house. My kids miss it dearly, but you can see how much he cares about the kids by forcing us out.

Anyway, I think the only way is to set yourself up finacially to refi and that will probably be after most of us recover from the credit crisis divorce gave us.


Me: 44/WH (SA): 49
M: 24 years 3 kids over 10 yrs old
EA/ PA Dec. 2009 -Divorce pending

Posts: 1240 | Registered: Apr 2010 | From: Midwest
Dark Inertia
Member
Member # 30727
Default  Posted: 6:49 PM, November 7th (Thursday), 2013View ProfileEdit MessagePrivate MessageHomepage

I just did some searches on the web, and from what everyone says:

No, you cannot refinance while in foreclosure. And no, one's name cannot be removed off the loan without refinancing. So for Nature Girl, it sounds like she was awarded the home, but that would still not remove the ex's liability unless the house is refinanced. There was an article about assuming the loan, but you have to have excellent credit and be able to prove that you can financially afford the loan.

[This message edited by Dark Inertia at 6:52 PM, November 7th (Thursday)]


"If I listened earlier, I wouldn't be here. But that's just the trouble with me. I give myself very good advice, but I very seldom follow it."

Posts: 1250 | Registered: Jan 2011 | From: The Ohio
FirstLoveGone
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Member # 25957
Default  Posted: 7:26 PM, November 7th (Thursday), 2013View ProfileEdit MessagePrivate MessageHomepage

I was able to remove my XH off the mortgage by assuming the loan. He then signed the quit claim deed so that I am the sole owner.

The loan and deed are two different things. And you can have one without the other. But that puts one in either a precarious or advantageous position (depending on which you have).

I would call the bank to find out what's going on.


Posts: 1269 | Registered: Oct 2009
Eranda
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Member # 6010
Default  Posted: 9:26 PM, November 7th (Thursday), 2013View ProfileEdit MessagePrivate MessageHomepage

If you are awarded a house in a divorce I believe it just means you are awarded sole possession of the house- meaning that you are the only one who can live in it. His name remains on the mortgage and most likely, the deed unless he signs a Quit Claim- which he would be insane to do while still financially responsible for the mortgage.

There is no way to remove someone from a mortgage loan without refinancing in your own name.


My Blog: http://allofthewaystohell.com/

Posts: 4226 | Registered: Dec 2004 | From: eastern PA
EasyDoesIt
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Member # 29514
Default  Posted: 10:11 PM, November 7th (Thursday), 2013View ProfileEdit MessagePrivate MessageHomepage

No. The only one way to get off of a loan is for the loan to be paid off and refinanced. You can get your name off of the deed with no problem, but the deed isn't the mortgage. The mortgage SECURES the deed and you're probably jointly and severally liable for the note. That means that if he defaults, YOU will be responsible.

A judge can only take you off of the title/deed via a divorce decree and Quit Claim Deed.

The loan has to be refinanced in his name only and it's unlikely for that to happen while in foreclosure.


Anything less than full disclosure and total transparency is pure bullshit. WARNING! No emotional pollution allowed.

Posts: 3692 | Registered: Sep 2010 | From: Georgia
crisp
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Member # 34236
Default  Posted: 7:11 AM, November 8th (Friday), 2013View ProfileEdit MessagePrivate MessageHomepage

Title to the property can be resolved by deed or by decree recorded in the land records. As many have stated, cleaning up the title does not resolve the debt obligation. Unless the bank is a party to the court case, it is not bound by any decree in that court action.

On the ability to get the EX off the debt obligation, it all depends on the mortgage holder. In the many years I spent as bank counsel and private attorney, this has come up frequently. Some (now most) require a total refinance. This is so because of the F-ed up nature of the secondary market where no one is in a position to make decisions and it is hard to even find out who actually owns the mortgage. If the loan is held "in-house" by a reasonable bank, the "assumption" route is definitely a possibility. The remaining borrower would have to satisfy the lender's credit underwriting criteria on a stand alone basis.

For you single moms out there who want to do an assumption and have good credit and the financial capacity the do it, ask your lawyer about the Equal Opportunity Credit Act and Reg. B. Banks and lenders are required to entertain loan request without regard to marital status and must give you something called an "Adverse Action letter" in the event the deny a request that specifies the reason for the denial. Food for thought.


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 383 | Registered: Dec 2011 | From: NE US
homewrecked2011
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Member # 34678
Default  Posted: 2:40 PM, November 8th (Friday), 2013View ProfileEdit MessagePrivate MessageHomepage

torn2bits

When I went to see a bankruptcy atty it really helped me to see what I could/could not do.

He was going to get the bankruptcy where I would make monthly payments that would include the arrears on the house.


me BS 52
him - 46
married 15 years DIVORCED 10 31 12
children - ds15 ds12
d-day 12-19-11
I gave a 24hour ultimatum then went to attorney next day
Divorce filed

Posts: 2120 | Registered: Jan 2012
crisp
♂ Member
Member # 34236
Default  Posted: 6:09 PM, November 8th (Friday), 2013View ProfileEdit MessagePrivate MessageHomepage

The bankruptcy Homewrecked is referring is a Chapter 13 reorganization. Your situation is different in that you are not seeking to keep the house. A chapter 13 would be something your STBX might consider if he wants to keep the house. You might need a Chapter 7 filing--just to clean up the mess. It is worth an initial consultation, especially since they are generally free.


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 383 | Registered: Dec 2011 | From: NE US
torn2bits
♀ Member
Member # 28376
Default  Posted: 8:54 PM, November 8th (Friday), 2013View ProfileEdit MessagePrivate MessageHomepage

Thanks guys! I am going to have to file for bankruptcy no matter what. He screwed up my credit so bad by stopping all payments. SAWH did just to ruin my credit. He didn't care if he ruined his along the way, jerk.

He thinks he gets everything and I will be destitute. Like I did something to him!

Anyway,he wants me to file bankruptcy first so that I can take whatever joint debt we have on my bankruptcy. I told him to blow out his ...."

I already told the man that I don't want to be married to him anymore, but this all about money.

Arghh! I can just feel that he is hiding something from me. I already called the bank and they just say its in foreclosure.

I will just have to wait and see.


Me: 44/WH (SA): 49
M: 24 years 3 kids over 10 yrs old
EA/ PA Dec. 2009 -Divorce pending

Posts: 1240 | Registered: Apr 2010 | From: Midwest
Dark Inertia
Member
Member # 30727
Default  Posted: 10:50 PM, November 8th (Friday), 2013View ProfileEdit MessagePrivate MessageHomepage

Anyway,he wants me to file bankruptcy first so that I can take whatever joint debt we have on my bankruptcy. I told him to blow out his ...."


Uuuhhh... he does realize that if you file BK first that the joint debt will just be transferred over to his name fully and the banks will start calling him? I saw this all the time working in credit cards:

Mr and Mrs. Smith get a divorce. Mr Smith agrees in the divorce to pay all the joint debt. He files BK. Creditors start calling Mrs. Smith for the debt.

Here is an article on how it works that better explains it:

http://www.mint.com/blog/credit/what-happens-to-my-debt-if-my-spouse-files-for-bankruptcy-0413/

The Bad News

If you have a joint debt with a spouse and that spouse decides to file for bankruptcy you are going to be unwillingly dragged into the mess, and not in a good way.

Just because your spouse has discharged his debts doesn’t mean that the debt disappears. When you decided to become jointly liable for the debt you made a commitment to act as a liable party, which is why I don’t recommend co-signing for anything for anyone.

When your spouse files for bankruptcy protection from his creditors they will no longer be legally allowed to attempt to collect the debt…from him.

If they do continue to send bills, call him asking for payment or worse, hire a collection agency to collect the debt, then they’re likely violating the rules set forth by the U.S Bankruptcy code.

They will, however, be able to continue to pursue you for payment of the debts. If your husband filed an individual bankruptcy the legal protection from creditors only applies to him, not to you.

Your creditors, and yes they are your creditors as well, will undoubtedly continue to pursue you for payment on the debt. This can include negative credit reporting and aggressive collection activities.

Personally I think it would be better if you filed first, and left him with the debt.

[This message edited by Dark Inertia at 10:54 PM, November 8th (Friday)]


"If I listened earlier, I wouldn't be here. But that's just the trouble with me. I give myself very good advice, but I very seldom follow it."

Posts: 1250 | Registered: Jan 2011 | From: The Ohio
crisp
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Member # 34236
Default  Posted: 5:00 AM, November 9th (Saturday), 2013View ProfileEdit MessagePrivate MessageHomepage

Dark is correct and her advice as to just file and get it done sounds like good advice. He does not benefit from you filing unless for some reason you file a Chapter 13. There is an automatic stay against collection on co-debtors in a Chapter 13. You have not provided any facts that would justify a Chapter 13 filing, so it is a non-issue.


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 383 | Registered: Dec 2011 | From: NE US
torn2bits
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Member # 28376
Default  Posted: 6:26 AM, November 9th (Saturday), 2013View ProfileEdit MessagePrivate MessageHomepage

You mean that if I file before him, they can still go after him for the joint debt? This is classic!
He ruined all my chances to purchase a house anytime in the next 5 years.

The creditors have not called me yet for the remainder on the boat. We have 2 credit cards thatare joint. This could be what he is doing behind my back.

Now, o wise ones, how would this impact the foreclosure on the house if I filed for bankruptcy and he did not?


Me: 44/WH (SA): 49
M: 24 years 3 kids over 10 yrs old
EA/ PA Dec. 2009 -Divorce pending

Posts: 1240 | Registered: Apr 2010 | From: Midwest
crisp
♂ Member
Member # 34236
Default  Posted: 7:52 AM, November 9th (Saturday), 2013View ProfileEdit MessagePrivate MessageHomepage

It would slow down the foreclosure for a little bit because of the automatic stay that comes into effect once you file. The bank would have to either wait until the house is abandoned by the bankruptcy estate/trustee or they obtain a relief from the stay.

Talk to a local bankruptcy attorney. The initial consultation is usually free and they will give you a checklist of all the things you will need to gather in order to file. You also probably have to do a credit counseling mumbo-jumbo before you file. The attorney will let you know all of that. Good luck.

[This message edited by crisp at 9:01 AM, November 9th (Saturday)]


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 383 | Registered: Dec 2011 | From: NE US
Dark Inertia
Member
Member # 30727
Default  Posted: 12:00 PM, November 9th (Saturday), 2013View ProfileEdit MessagePrivate MessageHomepage

You mean that if I file before him, they can still go after him for the joint debt? This is classic!

It is not a matter of they can go after him, it is a matter of they will go after him. Personally I think you do yourself no favors holding off on filing for BK, especially if you are wanting to buy a house down the road.

I am an advocate for bankruptcies as long as all other means have been exhausted. I would advise anyone who is seriously considering BK to do the research, weigh the pros and cons, and go do some free credit counseling. I don't think of a bankruptcy as a mark of shame, but a business decision that sometimes one finds themselves having to make.

How much debt are you talking here besides the house? If he is using a joint credit card for his personal needs that is all the more reason to cut that shit out.

If you know for a fact that you are going to file bankruptcy stop making payments on things now (if you haven't already). No more payments to credit cards, boat or car loans, mortgage, etc. That is money that is being thrown away and better used somewhere else.

There is a very good bankruptcy forum out on the interwebz, which offers a lot of good advice by professionals as well as people in your own situation. If you have no assets and want out from the debt (which sounds like is what you want, considering your original post) then a Chapter 7 would probably be an option for you. I would shop around for attorneys. A no asset BK can run you about $1500-2000, which is actually a pretty good price for the peace of mind.

[This message edited by Dark Inertia at 12:02 PM, November 9th (Saturday)]


"If I listened earlier, I wouldn't be here. But that's just the trouble with me. I give myself very good advice, but I very seldom follow it."

Posts: 1250 | Registered: Jan 2011 | From: The Ohio
EasyDoesIt
♀ Member
Member # 29514
Default  Posted: 12:28 PM, November 9th (Saturday), 2013View ProfileEdit MessagePrivate MessageHomepage

DO NOT declare in writing that you are willing to file for bankruptcy. This is one of those situations where you just talk about it and leave no written record.


Anything less than full disclosure and total transparency is pure bullshit. WARNING! No emotional pollution allowed.

Posts: 3692 | Registered: Sep 2010 | From: Georgia
homewrecked2011
♀ Member
Member # 34678
Default  Posted: 6:50 AM, November 10th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

This is really a good time to file bankruptcy, as you will be able to say on your future financial dealings that you filed due to your divorce...

How much you pay in your bankruptcy case depends on how much you bring home each month, I believe.

1) Look up any bankruptcy attys name today.

2) Make the call tomorrow, get the appt, just go see them for free, it will stop all the what ifs because you will now KNOW what is in store for you.

3) Find out if you owe anything to the IRS.


me BS 52
him - 46
married 15 years DIVORCED 10 31 12
children - ds15 ds12
d-day 12-19-11
I gave a 24hour ultimatum then went to attorney next day
Divorce filed

Posts: 2120 | Registered: Jan 2012
homewrecked2011
♀ Member
Member # 34678
Default  Posted: 6:53 AM, November 10th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

If he wants you to file bankrupcty now,,, this might be a reason:

Were you still married during 2013?

My friend filed bankruptcy and she is not getting her IRS refund check due to the bankruptcy.


me BS 52
him - 46
married 15 years DIVORCED 10 31 12
children - ds15 ds12
d-day 12-19-11
I gave a 24hour ultimatum then went to attorney next day
Divorce filed

Posts: 2120 | Registered: Jan 2012
Dark Inertia
Member
Member # 30727
Default  Posted: 1:10 PM, November 10th (Sunday), 2013View ProfileEdit MessagePrivate MessageHomepage

Well, from what Torn said it sounded like he wanted her to file for BK because he thinks that if she claims all of the joint debts he will not be liable for it.

Anyway,he wants me to file bankruptcy first so that I can take whatever joint debt we have on my bankruptcy.

Little does he know. If she files BK the debt will be transferred solely to him. He would either have to pay it off or file for BK himself to get out from under the debt.

If only it works the way he thinks it does. It would save a lot of people some trouble... the bank wants to get theirs, no matter the circumstances.


"If I listened earlier, I wouldn't be here. But that's just the trouble with me. I give myself very good advice, but I very seldom follow it."

Posts: 1250 | Registered: Jan 2011 | From: The Ohio
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