Foreclosure in 08087>Question Details

Bankruptcy, Renter in 08087

I live in NJ and my house is being foreclosed on by Chase.

Asked by Bankruptcy, 08087 Sun Jul 24, 2011

I am not on the deed or the title. The loan could not be put in my name so it is in my ex husbands name.. He has since filed bankruptcy, which included "my house" . He did this with out me signing anything.. Now my name is on the foreclosure paperwork, (hand written in). Do I need to be worried about my credit? will this show up on my credit report?

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Scott Godzyk’s answer
If you are not on the mortgage, your credit should not be affected, becuase your were married when he owned the house, you do have rights and have to be included on the paperwork. you should seek advice from your divorce attorney to protect those rights and your interests. good luck working things out
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Sun Jul 24, 2011
What does "NOTICE OF LIS PENDING RECORDED" mean?
Is this the beginning of the foreclosure process or near the end?
0 votes Thank Flag Link Fri Jul 29, 2011
This is the beginning of the foreclosure process. It means that the bank has filed the lawsuit. Notice of Lis PENDENS Recorded means that the title of the property is in question and it makes the property sale subject to the outcome of the lawsuit.
Flag Tue May 20, 2014
In reference to how much time you have left the house will depend on what happened on the foreclosure date of July 22nd. You should check with the sheriff sale department in your county to see if the actual foreclosure took place. The time you have left in the house is contingent on an eviction process.
0 votes Thank Flag Link Mon Jul 25, 2011
How long does Chase take to foreclose on the property after it had been filed with the township? I have not received anything from them personnally, I just just found out by pulling the public records info off of the web site.. It stated that Chase has filled for foreclosure on 7/22/11..Just wondering how much time , (approximately), I have left in the house
0 votes Thank Flag Link Mon Jul 25, 2011
Your credit should be fine. A client of mine had a similar situation whereby her husband was not on the deed, title, or mortgage. They served her husband papers on the foreclosure. However, be careful with Chase. Chase sold the mortgage when it was in default to another lender. My client subsequently bought the house out of foreclosure and the mortgage is current. Chase is still trying to foreclose on them. They do not even hold the mortgage anymore!!!!!
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Mon Jul 25, 2011
Dear Bankruptcy

Your credit should be just fine as you are not on the loan and not obligated.
The name being written in for the purpose of eviction after foreclosure.

Your credit report will not show the foreclosure.

However, it is prudent to keep your divorce lawyer updated.

Good luck.
Perry
0 votes Thank Flag Link Sun Jul 24, 2011
I was trying to modify the mortgage. I was behind on payments and worked a deal out with Chase ( after he gave them permission to speak to me about it) and made a couple of payments that they requested, then he filed bankruptcy. We were legally seperated when the house was purchased. His bankruptcy went thru about 4 months ago.
0 votes Thank Flag Link Sun Jul 24, 2011
Basically he was the "legal" owner and you are the "equitable" owner. It sounds as though the ex-husband discharged his liability on the debt in the bankruptcy. Based on the limited facts presented in your question, I must assume that either you stopped making payments on the house or it was past due at the time the ex-husband filed bankruptcy, as most banks don't usually foreclose if the payments are current. An attorney would need to look at the foreclosure papers and see why your name was "hand written in," as you stated, who wrote it in, etc. One can only assume based on these facts that you were "written in" so that the bank gave you proper notice so they may evict you after the foreclosure. However, this will be based on state property law in your state, as it differs from state-to-state. If you have only been "written in" for this purpose then your credit should be OK, as you are not an obligor on this loan. However, I urge you to seek advice from a competent attorney in your state to be on the safe side.

Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
Nathan Grace Real Estate, Broker
5619 Dyer Street | Suite 100
Dallas, TX 75206
Cell: 214.718.4910
Email: Jack@JackGillisRealty.com
0 votes Thank Flag Link Sun Jul 24, 2011
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