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I don’t understand how the bank can change the loan agreement without my consent: the house was granted to my ex in the divorce and a quick claim deed was completed. My ex didn’t refinance the home to get my name off, so my name is still on the mortgage. Some how he was able to re-modify change the loan terms and payment without my signature or consent: Can this be do thru the new Obama loans? I tried to get a copy of paper work and the bank stated that only one copy would be sent to property address and I would have to contact him for the information.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Nope the bank cannot change the terms of the loan or do modification with out the signature of both the parties involved

You shoudl check this with the bank and disput it to makesure that your ex did not sing on behalf of you. Also does the bank know that you are divorced

adonis · Posted: Sun Sep 27, 2009 9:04 pm Post subject:

Hi Guest,

I don't think it's legal to change the loan terms and conditions without your consent as your name is still mentioned in the mortgage docs. You should contact an attorney and decide what steps you need to take in this regard.

gmakerley · Posted: Mon Sep 28, 2009 9:05 am Post subject:

was the modification detrimental to you? if not, what's the beef? frankly, in this environment, it may not be possible for your former spouse to obtain a new loan to refinance. is there equity?

i agree, in principle, that the lender ought not to do any modifications without the authorization of all concerned parties, but if the changes made were favorable to all, then i think i'd let it go. if he cannot refinance, yet has made the terms more favorable through the modification, then you're better off, as the only other alternative was to continue with the mortgage as-is.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

george

I think notsure would like to get off the mortgage.

gmakerley · Posted: Mon Sep 28, 2009 10:20 am Post subject:

oh, no doubt, sunny. but in this current economic environment it is extremely difficult for people to refinance. if the changes to the existing mortgage are beneficial to the ex-husband and allow him to continue to make the payments, then that's beneficial to both of them if he is unable to refinance. better to have the mortgage continue to remain current than to try to force him to do something that's impossible to do (if that's the case)

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Agreed, but if notsure wants to buy a house, that may be impossible unless she shows enough income

gmakerley · Posted: Mon Sep 28, 2009 10:31 am Post subject:

no doubt you're right.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Good luck notsure

Guest

Thank you all for your advise… and you are correct Sunny, I would like to purchases a new home in the future and I also feel that the bank is giving him a hard time about re-financing him due to there best interest that 2 parties on loan is better then 1, Should the loan default because since the divorce he has acquired almost 25, 0000.00 in debt – not including the home (that he has not paid on). I’m also concern that should he pass or something, I am not on the deed …. and clearly I would not want to pay for a home that I cant own or live in. I trusted him when we got divorce and just sign my name, but there should have been a clause or term about the house.

Posted: Fri Oct 02, 2009 10:22 am Post subject:

i truly doubt the bank figures that having 2 people obligated is favorable. but if your ex forged a deal to modify the loan, it is likely that he was not in good shape to do so; and you just verified that with the story of other debt he has accummulated.

refinancing is probably not an option for him with whatever credit issues are there.

gmakerley · Posted: Fri Oct 02, 2009 10:29 am Post subject:

this was actually me:

truly doubt the bank figures that having 2 people obligated is favorable. but if your ex forged a deal to modify the loan, it is likely that he was not in good shape to do so; and you just verified that with the story of other debt he has accummulated.

refinancing is probably not an option for him with whatever credit issues are there.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

George i do nto think notsure confirmed that her ex really forged her signature

nitsure

if they have already done the modification thats good, in way so your ex does nto defult the loan, probably now he can afford the payment

but for soem reason he defaults then your credit report will also have a nig impact

gmakerley · Posted: Fri Oct 02, 2009 11:45 am Post subject:

that's not what i was saying...the definition of "forge" is actually "to form or make, especially by concentrated effort." that's how i was using the word. and "forging a deal" would be wildly different from "forging a document" in any event.

sorry for the confusion, though.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

No probelm George

I have also done such mistakes in my posts and you have been alwsy good at correcting them

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