I am in a divorce and want to stay in our house, my wife has moved out and the house will be foreclosed on, the house is in her name

Asked by Keithtriggs, 46226 Thu Feb 9, 2012

and i need a investor/s to buy it in short sale and sell it back to me

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11
Irina Karan, Agent, Fort Lauderdale, FL
Thu Apr 26, 2012
There could be homesteaded rights or the husband could be on the note...without being on title.
0 votes
Maureen Mizu…, Agent, Ozone Park, NY
Thu Apr 26, 2012
You cannot do a shortsale on a property you don't own.
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Irina Karan, Agent, Fort Lauderdale, FL
Thu Apr 26, 2012
Hello Keith,

Bay back from investor would be illegal, that's true.
You can do a short sale, and while you are doing it, you can try to get cash from the bank (it does not happen all the time, but sometimes it does - depending on the bank).
This cash will help you settle somewhere else.

However, if you can pay for the house on your own, without your ex, try to do a loan modification or a short refi. You can call your lender and talk to them about all options available to you.
You can visit legal aid (if qualified), or an attorney (some do pro-bono work)...

Best of luck,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes
Maureen Mizu…, Agent, Ozone Park, NY
Mon Apr 9, 2012
What you are looking to do is illegal, it will most definitely come back to bite you in the rear. First off you are setting yourself for unscrupulous criminals who will take over your property and leave you out in the cold. In addition you are risking criminal prosecution for fraud.
You are too desparate to make good decisions right now. I suggest you first consult a good Real Estate Attorney, as well as a good divorce lawyer. They are not necessary one and the same lawyer. You want lawyers who are specialists in each field because there are fine points that must be considered in both areas which require experience and proper execution of a plan. For example, if you are located in a community property state, It may not matter who's name is on the deed. If you don't have the money for this kind of help. I honestly suggest that you let go of the "keeping the house idea" because you could wind up in much worse trouble than you are already in.
It's hard to believe, but sometimes great loss is a perfect way to find a brand new beginning to our lives, a cleansing and freedom to do things right. Look up, that is where the best help comes from. I wish you the best. I hope you make the right decisions.
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Jeffrey Mitc…, Agent, Fishers, IN
Mon Apr 9, 2012
Depending on her loan type, there might be a couple of options. Can you call me to give me a few more details? My cell is 317-496-0027.
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Wilfo, Home Owner, 46226
Mon Apr 9, 2012
I got divorced they ordered me to move out my house and give to my wife even tho we sign a agreement letter and had it notarized that she did not want house , but bank will not finance her so i can not get my name off house but i would like to keep my house what can i do.
0 votes
Jeffrey Mitc…, Agent, Fishers, IN
Fri Feb 10, 2012
I would just like to add that, in dealing with short sales, the previous lender will typically be very interested in working something out. (This is assuming you're able to qualify for the loan) They spend a great deal in legal fees as they go through a foreclosure process.

Depending on how far behind in payments and which lender you are dealing with, this could be a smooth transition. This is assuming your wife will sign it over to you. She would also have to give you written permission to speak to representatives at the foreclosing lender.

If she just recently stopped making house payments, then it could be much easier. You might not have to involve her previous lender. You really just need to discuss this with a realtor that you trust. He/she could then also recommend a good lender. As mentioned below, Jon Knight does a good job.
0 votes
Peter Knight, Agent, Fishers, IN
Fri Feb 10, 2012
As already stated, your wife needs to agree to work with her lender on a short sale, and second, you will need to get a pre-approval with a lender (suggest Jon Knight at Primary Residential Mortgage - 317-579-0232 x20). Hopefully your wife is very cooperative because she'll need to provide financial information, pay stubs, bank statements, etc. to the lender. If you need an investor to purchase with the idea of a rent-to-own or similar, that adds a serious complication.
0 votes
Christi and…, Agent, Greenwood, IN
Thu Feb 9, 2012
First of all, your wife would have to agree to work with the bank on a short sale. There are a lot of papers to fill out and get back to the bank so they can approve a short sale. I don't see why you couldn't be the one to buy it in that sale if you are approved. Most likely your credit will take a ding just going through this. Talk with a trusted lender. A good person to ask about lending is the bank you have your accounts with as they have a relationship with you. Most investors will want to make a profit if they buy the home and then sell it back to you. You can do this if your credit is okay. You don't need an investor. Best of luck!
0 votes
Grace Colette, Agent, Hamilton, OH
Thu Feb 9, 2012
You could try to get financed and talk to your wife's lender. Maybe they'll work with you. Call Rock Planck of Primary Residential Mortgage to see if he can finance you...317-660-1739. Good luck....this is a difficult situation on many levels for you.
0 votes
Michael Weav…, Agent, Carmel, IN
Thu Feb 9, 2012
I am truly sorry for your situation. I am sure that there is an agent on here that will be able to help you out. There is a guy named Tom Michalic, he may have a solution for you. He may jump on here to help you out. You can look him up his company is 360 Realty. Best of luck!!
Web Reference:  http://thevearusgroup.com
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