QUESTION
If he won't sign the modification papers, do I have any recourse for him being responsible for any payments on the mortgage or is it negated by BK?
Asked on Apr 08th, 2013 on Foreclosures - California
More details to this question:
I am currently in the trial period of a loan modification on my Mortgage. The problem is that my ex-husband’s name is still on the mortgage (I live in the home with our 3 children). He is refusing to sign the modification papers. The other part of this is that we both filed individual bankruptcies 5 1/2 years ago. He included the mortgage in his, I did not and have been paying the first and second mortgage (taken out by both of us) for the past 6 years. I've been told that the bankruptcy makes him not responsible for the loan, only me and in that case, why can't the modification be done only with my signature?
4 ANSWERS
1 Award
It will be very difficult to accomplish without getting a senior supervisor with the lender involved. It will take persistence by you in getting to someone high enough who is authorized to make this kind of change to the loan-essentially taking him off it. The lender will likely require you to qualify for the loan on your own, without consideration of his income. If you won't be able to, you will be wasting your time.
Answered on Apr 09th, 2013 at 12:58 AM
You have two steps to take to possibly work this out. The first would be to have your ex-husband sign a deed conveying his 50% interest to you. The second step would be to show the bank that you are the sole owner and see if it would do the deal with you only.
Answered on Apr 09th, 2013 at 12:14 AM
It sounds as if the lender is demanding that both persons whose names appear on the title, the promissory note, and the deed of trust sign the modification papers. If that is so, how did you get the trial modification without your ex-husband's signature? The only remedy for permanently getting your ex out of the picture is to file a partition proceeding in the superior court. But, unless you are willing to sell the house and divide the proceeds, you would have to come up with the money to buy out his interest. Either way, you would be credited for one-half of your six years of payments.
Answered on Apr 08th, 2013 at 9:36 PM
Because your husband is on the mortgage.
Answered on Apr 08th, 2013 at 9:35 PM