foreclosure after divource

[Oops]

Hi,

I need some advise. I have finalized my divource in November and my ex-wife took the house. However she has yet to take the mortgage out of my name. Now I just found out that I'm being foreclosed on. What can I do?

[11usc362]

Chapter 13 will stop the foreclosure and help cure the arrears.

You should also check with your divorce lawyer to try to hold her in contempt for not paying on the debt.

[Oops]

What will having her held in contempt do for me? She will just claim she can't afford to take care of it.

Also she has just moved out of the house and put it up for sale. Will that automaticly count as surrendering the house and what will that result into?

[SinkingFast]

I don't know about the divorce situation, but we are experiencing Foreclosure ourselves.

Her moving out of the house and trying to sell it won't stop a thing as far as Foreclosure is concerned. The Lender wants money. Unless you have a qualified buyer with a set closing date already in the works, the Lender will move forward with the Foreclosure. If you have a solid buyer, with an accepted offer to sell, and a firm closing date, the Lender may allow the loan to move to Forebearance to allow the sale to close.

How quickly your Foreclosure can move along depends on several things. First, the State the property is located in. Look up the Foreclosure laws for your State and read about the process. Second, some States allow for a "right to sale" clause in the Mortgage contract. You'll need to know if you have one of those. The "right to sale" clause. If you do, the Lender can skip several steps and jump right to advertising the house for sale at auction.

New York is an odd duck. Every Foreclosure there is a Judicial process. Something to do with making sure the Lender gets a clean deed/title to the property. All Foreclosures in New York take a while. You may have as much as 18 months if the house is located in New York State.

A lot is gonna depend on the State, and whether or not the Lender has to proceed along the Judicial Foreclosure path.

You might want to make some appts with BK attnys and have a couple quick Consults. Consults are free and you can gain some info about where you are in the timeline of your current situation and what your options are.

[CallDustin]

I was just browsing and thought I might be able to help. I actually negotiate with bank foreclosure depments for a living and I might be able to help with the house (only before bankruptcy).

If you want to talk email me at [email protected]

Keep your head up.