Foreclosure in Phoenix>Question Details

Narmenta, Both Buyer and Seller in Phoenix, AZ

I bought a house with my ex-finacee. We are both on the title but I'm the only one on the mortgage. If I foreclose can she sue me?

Asked by Narmenta, Phoenix, AZ Mon May 23, 2011

She previously stated she wanted $10,000 to sign over the title. I don' thave that kind of money because my wife and I are currently in the process fo buying a house in my wife's name. I know she won't sign a quit claim.

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29
Buy here out even if you have to give her a few hundred dollars each month to pay her the 10K. Foreclosure is not an option and your buying a new home means you can afford this one. You will ruin your credit by foreclosing and it will hurt your wife's chance on another home. Be wise and either pay your ex what she wants and get her out of your hair or sell the home together and tell her she can have the profit of the home over the payment of the mortgage or some percentage there of.
1 vote Thank Flag Link Mon Jun 6, 2011
First: get a lawyer and ask about going the short sale route instead of a foreclosure that way she will have to agree with the short sale terms and sign the deed.
1 vote Thank Flag Link Mon May 23, 2011
I would consult a real estate attorney to get legal advise. This is a legal issue, not a sales issue. There are a lot of variables that a real estate attorney would be able to review and it's important that you get the correct legal advise for your current situation. I would do it sooner rather than later since you might be able to avoid a worse situation if you make a wrong move now. I wish you all the best with this situation. I know a great agent in Phoenix that would be awesome for you to contact.
0 votes Thank Flag Link Tue Jul 5, 2011
I have 2 things to say. Speak with an attorney who is well versed in real estate, especially short sales & foreclosures and a good understanding of the effects of bankruptcy. I find that there are attorneys out there who are counseling homeowners to walk away from their homes and file for bankruptcy. Short sales are anything but short but there are many buyers out there willing to stick it out for the home they want giving homeowners a good chance of doing the right thing.
The other advice I have for unmarried couples buying a home is to seek attorney advice before signing a contract. It can put a sour note on a seemingly lifelong relationship but purchasing an investment is a partnership that needs to be clearly defined going in. I've seen this scenario before and it can be worse than a bitter divorce.
Good luck.
0 votes Thank Flag Link Mon Jul 4, 2011
Hi Narmenta,

What an unfortunate situation. If whoever is responsible for paying the mortgage defaults (I'm assuming that is you right now) the occupant will be evicted upon foreclosure. The other legal title holder has the option to step in at anytime and make payments so I don't see how she could sue you in the event of a foreclosure. It would have devastating effects on your credit though so I'd definitely try a short sale or traditional sale. She may not sign a quit claim deed but she might take over payments if she knows you aren't going to make them anymore. It is always good to consult an attorney who specializes in real estate transactions in your state for definitive answers.
0 votes Thank Flag Link Wed Jun 8, 2011
Try to buy her out for a cheaper price. If not, seek the advice of a real estate attorney.
0 votes Thank Flag Link Tue Jun 7, 2011
The sad part about this, is that since only your name is on the loan, only your credit will be affected if something adverse were to happen to the property (foreclosure, for example).

If the bank forecloses, whoever lives in the house may be evicted.

Seems like both sides should attempt to come to an agreement. If you engage an attorney, your attorney may be best equipped to explain to both sides what the consequences are. If no one comes to an agreement, both sides lose.

Good luck!
0 votes Thank Flag Link Tue Jun 7, 2011
I agree with Elena! Attorney first and see if this can be salvaged as a Short Sale first
0 votes Thank Flag Link Mon Jun 6, 2011
Are you current on your mortgage payments. I don't understand what you mean "if I foreclose"
The bank will foreclose when the mortgage payments are missed, and the title to the house will now become a bank owned REO. Your credit will be messed up for years, and your wife will have no consequences. I would think $10,000 might be a good deal, and give here some money up front and monthly payments.

DAVID COOPER Foreclosure and Bank REO's Investor-Las Vegas.35 years experience For freee list
Call +1-7024997037 or check website
0 votes Thank Flag Link Sun Jun 5, 2011
Greetings,

Seek legal advise.

Sincerely,
Sandra J Steele
0 votes Thank Flag Link Sun Jun 5, 2011
The best advice anyone here has given is that you need to contact an attorney. If there is equity in the home that was earned while you were together or she had contributed to the down payment, depending on the exact circumstances, she may be entitled to her share and an attorney may advise you to take an equity or personal loan, or even to sell, in order to clear the title.

If that is not the case, if there is no equity in the home and/or she did not pony up for the down payment when the two of you bought the house, and she is unwilling to be reasonable as you suggest, you may have to go to court in order to resolve the matter.

Allowing the property to go to foreclosure may cause additional problems outside of her suing you or it damaging your credit. Such a drastic solution should be avoided until you have all the facts from a qualified attorney who specializes in real estate law.
0 votes Thank Flag Link Sun Jun 5, 2011
Hi Narmenta

If you are on the mortgage and foreclose, only your credit gets ruined.

If your ex fiancée is not paying towards the house then she looses the home too.

It all comes down to what was the written agreement between you two.

Verbals are no good, if the written agreement was that she contributed towards the down and you would
Pay for the loan then, $10k is a good option.

Consult a lawyer.
Perry
0 votes Thank Flag Link Sat Jun 4, 2011
Seek legal advice, find out worst case outcomes. For example here in Arizona we are a community property state. Find out what you can expect legally, I suspect $10 K might be the least expensive solution. Best of luck.

P's. My wife is a real estate attorney, seek one in your city.

Spirit
0 votes Thank Flag Link Sat Jun 4, 2011
Yes, you can be sued by anyone for anything at anytime. However, that does not mean the lawsuit has any merit. Even if your wife is on title, the bank can foreclose since you and only you are the financially responsible party. The first lien position of the mortgage does not change regardless of whether title passes if the lien is not removed.
0 votes Thank Flag Link Tue May 31, 2011
I will be so bold to go where no one so far has gone and I will answer your question directly and with 100% certainty.

The answer is Yes, she could sue you, because anyone can sue anyone they like in this country.
Because of this, you should seek the assistance of an attorney.
0 votes Thank Flag Link Thu May 26, 2011
Narmenta, you need to go to a lawyer for this one. The mortgage is your responsibility and your financial situation with your a past partner is a legal matter.
Good luck!
0 votes Thank Flag Link Thu May 26, 2011
I'm not going to give you legal advice, but I have an observation.

If when you purchased the home, she contributed to the down payment and closing costs, then the right thing to do would be to buy her out with that amount. If she can substantiate that she has $10,000 invested in this property, then it would make sense that she get this back. The question she would have to ask is whether or not it's worth $10,000 to hire an attorney to chase $10,000.

I guess the real question is, what would she be suing you for?
0 votes Thank Flag Link Tue May 24, 2011
Narmenta,

Everyone here has given you great advice. Talk with an attorney as soon as you can.

Best of luck,
Deborah Griffin
DeborahinAz@me.com
0 votes Thank Flag Link Mon May 23, 2011
That definatly is a legal question. Also, a very uncomfortable one in your current circumstances.

Feel free to contact me for a referral. There are some unanswered questions to your situation that would be helpful in deciding what step to take next.

Lucinda Tkach
lucindat@longreatly.com
0 votes Thank Flag Link Mon May 23, 2011
Your situation is the reason why we have lawyers. Go get one fast!
0 votes Thank Flag Link Mon May 23, 2011
No one here can help you. And even if someone tries to give you advice here I wouldn't put too much weight to it. You really need to talk with an attorney. If you don't know anyone let me know and I will send you the contact information of an attorney I know who is very experienced on that area.

Carlos J. Ramírez, PC, ABR, CNE
RealtorCarlos@gmail.com
Associate Broker/Realtor, HomeSmart –
Certified Negotiation Expert (CNE)
http://www.SmartAZRealty.com
0 votes Thank Flag Link Mon May 23, 2011
I am not an attorney and am no giving legal advice, only my opinion. Anyone can sue anyone. If you do something to damage another party or violate an agreeement you have in force (divorce decree, etc) then you probably can have some liability. There is more to the questions then just can she sue you. Probably be a waste of time on her part. But emotions don't always follow good sense. Also depends on what you owe on it and what it is woth to determine the best stategy plan for that ciurumstance. Good Luck.
0 votes Thank Flag Link Mon May 23, 2011
I guess it is human nature to try and work around problems instead of solving them. I gather that is why your current wife is trying to buy another home in her name. Others below have said to seek legal counsel about the previous transaction, I would add to check out what happens if you compound the problem by purchasing another home. ALL buyers think every transaction is an island, they are not. Every financial obligation you take on is connected to every other financial obligation you already have regardless if they are in your name or your wife’s. You can not make two payments with the same dollar. If your wife is counting on part of your income to help keep the household afloat it may not happen if the other house sinks. Safety first, clean up old problems before creating new ones.
0 votes Thank Flag Link Mon May 23, 2011
See an attorney, not a web site.
0 votes Thank Flag Link Mon May 23, 2011
Narmenta,

Run don't walk to the best Real Estate attorney you can find. Can't imagine she would have leg to stand on since you'll be the only one hurt (credit wise) by the foreclosure. However because she is on the deed she does have legal claim to the property.
0 votes Thank Flag Link Mon May 23, 2011
I would hire an attorney to represent you in the legal situation!

If you don't have any equity in the home, I'm not sure what the point would be. If you do have equity, being on title, she may be entitled to some of the equity.

Either way, if you are on the mortgage and don't make payments, you will be the one that the bank is coming after when they foreclose. Your credit will be impacted for delinquencies.

Best of luck!
Web Reference: http://www.jameswehner.com
0 votes Thank Flag Link Mon May 23, 2011
You should speak with an attorney on this issue. Phoenix has a number of attorneys with experience in Real Estate, Mortgage, Foreclosure etc that could consult with you and give you the legal advice you are requesting.

Attorneys seem to be in the $150 to $250 for a consultation like this. It could be money well spent.

Arizona Homes for Sale by a Guy from Iowa
Web Reference: http://www.McVinua.com
0 votes Thank Flag Link Mon May 23, 2011
Narmenta,

That sounds like a great question for an attorney.

Best of luck!
Todd
Web Reference: http://www.BookspanTeam.com
0 votes Thank Flag Link Mon May 23, 2011
Since you are asking a legal question, it's in your best interest to consult with an attorney who specializes in real estate; he/she can best advise.
0 votes Thank Flag Link Mon May 23, 2011
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