| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 255.1 | not a lawyer, but... | CSC32::HADDOCK | Don't Tell My Achy-Breaky Back | Thu Mar 25 1993 10:57 | 15 |
|
I have not been through this specific problem, but my experience
with "final" decrees is that they are difficult to modify later
except for "child support". Her claiming "pressure" or "duress"
will not likely fly. Especially if she was represented by an
attorney during the divorce. If she can modify it, I know a lot
of men that would like to modify a lot of bad deals that they got
ramrodded into by their attorneys.
However, if you signed a "quit claim" deed, that does not necessarily
take your name off of the mortgage. You can still be held liable
for the mortgage even thought you no longer have any right to the
property. Bummer, huh.
fred();
|
| 255.2 | loan has nothing to do with divorce | CSC32::HADDOCK | Don't Tell My Achy-Breaky Back | Thu Mar 25 1993 11:08 | 22 |
|
In reading .0 again, I don't think that the divorce decree has anything
to do with it. The mortgage that she signed is a separate legal issue.
Again if she was represented by an attorney at the time, she cannot
likely claim "pressure" or "duress". You will, however, have to make
sure you follow all legal procedures in making a claim on the home.
In some states you have a lot of formalities to go through like
sending the debtor a "right to cure" (right to pay off arearage or
loan) before you actually file for foreclosure. Then she will still
have a certain amount of time to pay off the loan before you can
take possession. Even at that the court will likely order the home
sold to pay off your share of the mortgage and whatever is left
over will go to her. If there is not enough from the sale of the
home to cover the debt, she can still be liable for the rest of the
debt. At that point, you can go through "normal" debt collection
procedures like having her wages garnished (you will have to go
back to court over that).
Probably will have to get a lawyer to give you the entire process.
They change from state to state.
fred();
|
| 255.3 | | AIMHI::RAUH | I survived the Cruel Spa | Thu Mar 25 1993 11:32 | 12 |
| Sue the pants off the ex if she fails to sign the papers. For when your
going thru a divorce the last thing the marrital master asks you is
that there is diress involved with the divorce. She and yourself should
have to have said,"N O !" there someplace.:)
I would sue her for failure to sign, loss of money, and anything else
that you and your attorney can think of. And if they (the attorney)
starts to drag its feet. Drop em and find someone else for there are
more attornies out there than there are clients to give them good
money.:_)
Have fun
|
| 255.5 | Something else to consider | CSC32::HADDOCK | Don't Tell My Achy-Breaky Back | Thu Mar 25 1993 12:09 | 13 |
|
Something else you may want to investigate. I heard a guy talking
about this on the radio the other night, but I don't have the full
details. It is called a "Common Law Lien". If a bank is fixing
to foreclose on your property, you can file a lien against your
own property and make the bank sell it for what it would take to
cover your equity. Contrary to popular belief, banks do not have
to sell the property at "fair market value". They can unload it
at an auction for whatever they can get and leave you holding the
bag for whatever is left over. The Common Law Lien was given
as a way to combat that.
fred();
|
| 255.7 | milage can vary by state | CSC32::HADDOCK | Don't Tell My Achy-Breaky Back | Thu Mar 25 1993 14:28 | 9 |
|
Once again, I should have said, your milage on .5 can vary depending
on local laws, but you should take the time to educate _yourself_
not just take the bank or anyone else's word for it. A good place
to start is the CONSUMER CREDIT sections of the local state laws.
The law books can usually be found in the local public or university
library.
fred();
|