If you were not in a first position you might have lost your investment.
You ned a real estate attorney to ask your question to.
However I am not an attorney.
Here are some things to research and ask an attorney:
1) what position in the line of debts was/is your loan.
2) do your loan docs say anywhere in any paragraph that you request to be notified in the even of a foreclosure by a loan in a position in front of you.
3) if you weren't notified by the foreclosing entity, why not, and do you have any legal remedies .
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You mentioned in another question that you were not on the mortgage is that correct? If you are not on the mortgage hire an attorney to to a deed transfer and transfer to your ex for $1.00 prior to the short sale.... more
Were you represented by an attorney when you got the divorce? If so, you should speak with your divorce attorney about the disposition of this property pursuant to the terms of your divorce decree. If you were not represented by an attorney when you were divorced, you should have an experienced divorce attorney to review the divorce decree to determine whether dispostion of the property was addressed. Depending on the terms of the decree, transferring title to the property to your ex would be your best option for protecting your credit.
Sharon E. Smoot, RealtorÂ®, SFR, Esq.
Coldwell Banker Residential Brokerage
2820 Main Street West
Snellvlle, GA 30078
Disclaimer: The information contained herein is not meant to be legal advice and is distributed only for informational purposes. You are encouraged to consult with a qualified attorney in your area.... more