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

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.

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

Can a Mod move this to the problem/solution forum please?

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

Thank you!

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi urgatorbait,

Sorry to hear your situation.

If the divorce decree says that your ex has to pay half of the mortgage for so and so time, he is legally bound to do so. And for the non payment you can take legal actions against him.

First of all consult with your lender and if you can't make any further payments go for short sale or deed in lieu. Lenders doesn't always agree for DIL but you can try out short sale.

Fell free to ask if you have any further questions.

Best of luck,
Larry

jenkin7 · Posted: Thu Dec 27, 2007 3:42 am Post subject:

Hello Urgatorbait,

You can definitely sue your ex-husband for the payments he was supposed to make as per the divorce judgment. It depends on the court whether the money should be taken from your ex's 401k account or not.

If you default in making the payments, then the lender might foreclose on your property and he might seek deficiency judgment to recover the unpaid mortgage balance.

scherzeroni · Joined: 05 Jan 2008 Posts: 51 18.77 Dollars($)

contact your attorney that represented you for your divorce. You can go back to court and the judge will make him follow through with the terms that he is supposed to.

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Help! Ex bailed on the mortgage.