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divorce deed in lieu of forclosure

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RLG Guest	Posted: Sat Feb 12, 2011 7:32 am    Post subject: divorce deed in lieu of forclosure Like 0 Dislike 0 Although my name is not on the mortgage - my ex husband's name is on the mortgage - Wells Fargo put me on a temp modification plan that lasted over a yr - I made the payments and went thru 2 modification processes both modification request were denied because I am not the borrower. Which is fine & I will be looking for a new place to live shortly. However, my name is on the deed & thru the divorce my ex quit claim deeded the home to me & now his name is completely off the deed. My question is how will this effect the deed in lieu of forclosure process since this is now an option that the WF attorney is offering. How can my ex - the borrower do a DIL if his name is no longer on the deed. Also would WF make my ex try a short sale before accepting DIL? Any advice would be appreciated. Thank you _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Feb 13, 2011 9:39 pm    Post subject: Like 0 Dislike 0 Hi RLG, As the ex-partner's name is still mentioned in your mortgage docs, he or she might go for the deed in lieu of foreclosure. The attorney may ask your ex to go for a short sale before going for a deed in lieu of foreclosure. _________________ Procrastination is the enemy of your financial success

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