Posted by Tony Padilla on February 06, 2004 at 10:21:24:
what state are you in? the only thing you can do is to contact her lawyer to locate her. or hire an investigator to search for her by her SSN or DL#. did you stay with the house or did she? if you did and your trying to refinance, tell her that she will be released of liability (she gets a “fresh start” and will have a mortgage “payoff” which will look excellent on her credit) if the refinance takes place…if you’re just trying to refinance for a lower rate (the lender may not allow it if they find out you’re divorced(recorded at the courthouse)you’ll still be in the same boat if she’s on the new loan, also.
Q&A- Divorce and Real Estate - Posted by Tony Padilla
Posted by Tony Padilla on January 10, 2004 at 24:48:16:
Your husband’s lawyer should have drawn up a “Deed of Trust To Secure Assumption” document if there was a Deed of Trust on the property when it was bought with his ex-wife, because he is still contractually obligated to make the payments to the bank-even if he signed over his interest and rights to the ex-spouse and doesn’t live there anymore! If there was a “Deed of Trust to Secure Assumption” document created at the time of the divorce, (which if a lawyer was involved on your husband’s side, he SHOULD HAVE DONE THIS!)a “lien” was created with this document. Giving your husband “beneficial rights” to make certain that the ex-wife would make the payments in accordance to the Deed of Trust. If she defaulted under this agreement(“Deed of Trust To Secure Assumption”), your husband could make advancements toward the Note to cure the default, then he could FORECLOSE on the subject property-EVEN if the ex-wife brought the Note current! The ONLY way she could stop this FORECLOSURE would be to REFINANCE the property with a “NEW” loan and release your husband of further liability; before the foreclosure sale. The only thing is the expense of making up the back payments(maybe) and the expense of the attorney or foreclosure service company to conduct the Foreclosure proceedings and the auction sale, which could run from $1500.00 to $3000.00 depending on where you live. Ask to see if there was a Mortgage or a Deed of Trust excuted when they purchased the house. Depending on which would give you a better idea as to which way to approach a GOOD real estate attorney to help you sort out this mess! (AND GET THE HOUSE BACK OR OUT OF YOUR HUSBAND’S NAME)
Re: Q&A- Divorce and Real Estate - Posted by quintin hardy
Posted by quintin hardy on February 03, 2004 at 09:20:47:
Wife did not show up @ divorce to execute deed of trust. Can not locate to have such deed executed @ this time for refinance of said property. What can I do?