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I was approved, on my income ALONE, for an in house MOD through BofA. I bought the house from my EX in 2006 and he quit claimed off the title but his name remains on the original loan. BofA will not process the MOD without BOTH signatures, his and mine, even though he released all liability and has not contributed to the mortgage in OVER 5 years. BofA has accepted the past 4 MOD payments from me although they are now saying it is not approved due to the missing signature.
Is there ANY way to get my EX to sign this MOD or to get BofA to accept the MOD with one signature? My EX and I were never married just together for 10years. BTW, the loan is held by a private investor, not Fannie Mae or Freddie Mac. ANY advice would be GREATLY appreciated. I desperately want to stay in my home!

chrisgummerson · Posted: Wed Jun 22, 2011 5:01 pm Post subject:

Get the X to sign a power of attorney or sign the loan mod. Other than that, the bank will not work with you. They will do most anything to just get the house in the banks name. I have heard of banks forging signatures to get things done...

gmakerley · Posted: Thu Jun 23, 2011 7:46 am Post subject:

Are you serious, Chris? They're forging names for the purpose of doing modifications, or are you talking about some other kind of fraud, such as the ones they've become famous for?

chrisgummerson · Posted: Thu Jun 23, 2011 8:06 am Post subject:

George,

Try to find archive of either 60 minutes or Dateline (not sure who aired) but anyways they had a special about the whole meltdown and the illegal foreclosure process. They stated they had teams of people, and their only job was to forge paperwork. I have replied to other people on this site and others who have stated that their banks forged their spouses names etc...I worked for a loan mod attorney, and I suspected all these things that the made fact in the special, while I worked desperately to help homeowners save their homes. Point is, I have seen and heard it all from the banks and the homeowners who were lied to. Now with this special, and the actual employees coming forward, it all makes sense...Take a look and let me know what you think.

Guest

Thanks for the responses. Basically i NEED the Ex to sign the MOD in order to get it finalized but he won't even though he is NOT on title and released all liability back in Jan '06. BofA will NOT accept MOD with only my signature since we are both still on orig loan. I need to figure out a way to move forward with the MOD without my Ex's signature...anyone know how I can do this? Or how I can force Ex to sign?

Posted: Thu Jun 23, 2011 12:31 pm Post subject:

If I were you, I would find out what state laws are regarding your loan, and if the state allows for deficiency judgement. He is no longer the "owner" of the property, but he will be party to the legal action from the lender, if the home foreclosed. Florida for example on a foreclosed home, or even short sales, can come after the debtors for 20 years and attach to anything they own as real property. His credit will be ruined, and he could be party to the lawsuit, foreclosure, deficiency judgement as well as the tax implications. When your home is foreclosed, short sold, deed in lieu, or anything that pays less than what you owe on the home, the IRS treats this as income, not a loss. You would have to consult tax professional to know your responsibility. It is NOT in his interest to not work with you. If he thinks that because he signed a quit claim, he is scot free, he is sorely mistaken. Signing the quitclaim does nothing in regards to the repayment of the debt. Hope he has common sense to comprehend this...

Guest

Thanks for the responses. Basically i NEED the Ex to sign the MOD in order to get it finalized but he won't even though he is NOT on title and released all liability back in Jan '06. BofA will NOT accept MOD with only my signature since we are both still on orig loan. I need to figure out a way to move forward with the MOD without my Ex's signature...anyone know how I can do this? Or how I can force Ex to sign?

smithsussane · Posted: Thu Jun 23, 2011 9:04 pm Post subject:

Hi Guest!

Welcome to forums!

You cannot get the modification done without your ex-spouse's signatures. You should negotiate with him so that he agrees to sign the deed in order to help you get the modification.

Feel free to ask if you've further queries.

Sussane

gmakerley · Posted: Sat Jun 25, 2011 5:20 pm Post subject:

I'll have to check around to find that, Chris...thanks for the heads-up.

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