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96warrior

Joined: 26 Dec 2007
Posts: 3
1.93 Dollars($)
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Posted: Wed Dec 26, 2007 5:57 pm Post subject: Help! Ex bailed on the mortgage.
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| Hello all. Been trying to sell our house in Mi. since 5/06. In my divorce judgment (8/06) my ex was to pay half of the mortgage for a full year,with a decreasing asking price every 3 months. The year has passed and I havn't gotten a payment since last August. With a stagnet real estate market,and work being very slow,I've been using my savings to live on,and pay the mortgage. It's reached a crisis level,and the ex could care less about credit,or foreclosure. Meanwhile I've been protecting it for almost 5 months. We owe 180,000 and can't get that much for it. I think I'm slightly upside down on the mortgage,and feel like I've been feeding a bottomless pit the past 4 months. My divorce judgment states...."After the listing price of 180,000 has been reached,the parties shall be entitled to petiton this Court for relief in the event the home has not sold,and the parties cannot agree on any further reductions in listing price" Does this mean I can sue for the missed payments? Can the court take $ out of the ex's 401k for missed,and future payments? Will I have to wait until the house is sold before I could collect from the ex's 401k? If that's the case,then foreclosure is around the corner. That brings me to my retirement account. I have a very modest amount in a IRA,about 25,000. Can the mortgage company take funds from it in a deficincy case,or is that to small of an amount? I'm 38 by the way. I'm just looking for insight,or advice from someone that's been in a similar situation. Thanks for any help. |
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96warrior

Joined: 26 Dec 2007
Posts: 3
1.93 Dollars($)
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96warrior

Joined: 26 Dec 2007
Posts: 3
1.93 Dollars($)
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larry

Joined: 27 Jun 2007
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jenkin7

Joined: 04 Jun 2007
Posts: 4537 Location: Hawaii
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scherzeroni

Joined: 05 Jan 2008
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