Foreclosure in 33470>Question Details

jkasstastic, Home Buyer in Palm Coast, FL

Can you get a new mortgage loan if you are affiliated with a deed in foreclosure? (not on note, just deed)

Asked by jkasstastic, Palm Coast, FL Tue Mar 5, 2013

My ex is on the note, I had initialed it originally, not signed. Then, the house was quit claimed to me in divorce. He stopped paying me & the house went into foreclosure because they could not do workout options with me since I was not on the note. I want to secure a home for my children, I have the credit since he is on the note, but I am affiliated with the deed. I was told 3-7 years because of foreclosure but I never had options available to me since I am not responsible for the note. Why should my children and I be punished not to buy a new home just because I am affiliated with a deed. It doesn't seem fair.

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Answers

1
There would be a number of factors involved here: All Legal.
You need legal advice to " clear-up " and " clean-up " all
uncertainties on your responsibilities', and then go forward. An
attorney will be able to determine whether you could be looked
at as an " innocent Spouce" or not? There are a number of items
that answered-could hurt or help. Examples: were you listed as a
defendant in the forclosure and never removed?What responsibilities
did your divorce decree assign?, What were your responsibilities
once accepting a deed to a property with a mortgage lien on it?
Get Legal help to build your case for a fresh start !
County Bar Association or trusted Realtor ,insurance agent,or accountant
would be good sources to consult as to a local lawyer for you to talk to.

Bob Brubaker Highlight Realty Palm Beach County Fl. 561-876-6649
Realtor and Licensed Community Association Manager
Web Reference: http://pbc-realcam.com
0 votes Thank Flag Link Tue Mar 5, 2013
Thank you. I will do so, but as a single mom there goes more money instead of rightfully securing a home for 3 minor children. You'd think a bank would understand. I was listed as defendant after I faxed my deed & court decree to the bank (still not responsible/no options?) I paid my ex 32k cash for quit claim & was suppose to maintain pymts & refi w/in 2 yrs. Within 10mo. my income reduced 3k mo & bank would not modify & no refi. with that loss of income. He currently in arrears 140k (yes, $140,000) & there is proof of that as well as all my attempts to modify/keep home. Now, my income has increased & I would finance it at the principal balance, but the deed is holding me back from being approved. It's like a catch 22. There should be help for single moms dealing with deadbeats, courts, attorneys while trying to raise 3 minors. I was also told a deed in lieu with medical /disability "might" have me released from deed. Are you aware of that? I really appreciate your help.
Flag Thu Mar 7, 2013
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