2nd lienholder wanting to foreclose

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2nd lienholder wanting to foreclose

Divorced 7 years ago and ex signed Quitclaim to house 1st. In divorce papers I took responsibility for house and 1st mortgage and husband took 2nd. Now after 7 years he stopped making 2nd payments and bank is wanting to foreclose. I am in loan modification right now on 1st but not finalized yet. What are my options?

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Anonymous (not verified)
2-03-2015

1 Answers

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Pay them? Work something out with them? They have every right to foreclose in an attempt to collect their money - They are not involved with the arrangement between you and the ex - so they wont care that he was supposed to make the payment - they just know that there is no money coming in and their loan is secured by your home - If they foreclose they may be able to sale and get their money - or in an attempt to foreclose get someone to step up and catch them up. I dont know of any other option with maybe the exception of bankruptcy Brian Barnes Nationwide Mortgages Brian@AimWithFocus.com

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brian1 | Asked on 2015-03-11

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