Posted on: 23rd Feb, 2009 05:13 am
my ex and i owned a house from 1999 until 2005. the 1st mortgage was under his name only and it was foreclosed on nov. 2005. the 2nd mortgage, which has both of our names on it, hasn't been paid since then and has just sat there. it appears that is was charged off.
my boyfriend and i want to buy a house for our children but this 2nd mortgage is the only thing standing in our way. is it possible to bundle or refinance this old mortgage in with the new mortgage which would be in my name only (it would not include my boyfriend's name)? the old one is through greentree and the new one would be through m&t (they want to help me but say i have to solve this 2nd mortgage problem first). does this sound possible? i just want to absorb this debt so i don't have to deal with my ex and his issues.
my boyfriend and i want to buy a house for our children but this 2nd mortgage is the only thing standing in our way. is it possible to bundle or refinance this old mortgage in with the new mortgage which would be in my name only (it would not include my boyfriend's name)? the old one is through greentree and the new one would be through m&t (they want to help me but say i have to solve this 2nd mortgage problem first). does this sound possible? i just want to absorb this debt so i don't have to deal with my ex and his issues.
the only way in which you could "bundle" the old second mortgage with your new first mortgage is by borrowing as much as you can on the new purchase by reducing your down payment. the new lender is not going to provide you with the funds to pay that old debt - at least not specifically.