QUESTION
I live in Mississippi. I found out in November that my ex-wife was $15,000+ behind on my mortgage payments.
Asked on Jun 11th, 2012 on Real Estate - Mississippi
More details to this question:
She was awarded the home in the divorce. She was also responsible for the payments. November 2011 I
received a letter from Green Tree Servicing stating that she was behind. I called Green Tree to see
what was going on & then I was told that my ex had filed bankruptcy on the home. They only contacted
me because she had defaulted on her bankruptcy. Now they are threatening to repossess the home
unless I can pay them $17,000. My ex-wife has moved out of the home, but she refuses to take
responsibility for what has happened. I can''''t afford the home, but I don''''t want to ruin my credit
with the repossession. Is there any way to hold Green Tree liable for the payments being delinquent
since I did not receive notice until recently?
1 ANSWER
Real Estate Law Attorney serving Anniston, AL
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Isom Stanko & Senter, LLC
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When you and your ex-wife bought the property, you both signed a note promising to pay the loan back pursuant to a set schedule. You were equally liable on the debt. The divorce did not change that. The fact that the judge awarded possession of the home did not change that. The fact that she was told to pay the debt and did not does not change the fact that you promised to pay the loan back. The mortgage company can look to either of you or both of you for repayment. If payment does not come, the mortgage company has the right to foreclose its mortgage and try to make itself whole by doing that. Unless the mortgage lender signed some kind of agreement at some point to notify you of any default by your ex, I don't think it had a duty to notify you. It was your affirmative duty under the note/mortgage to see that the debt was paid.
Answered on Jun 12th, 2012 at 7:12 PM