Posted on: 19th Apr, 2009 01:48 pm
In 2006 I filed for divorce after over 40 yrs. and my husband was to obtain a reverse mtg to pay me half equity. I signed a quit claim and grant deed. He got the money but only paid my attorney $45,000. and it should have been over $55,000. Shortly after this he got sick and died in March of 2008, before my attorney put a 2nd to obtain the remaindrer. Now Financial Freedom is going to start foreclosure any day. The entire divorce was dismissed when he died so we never were divorced. We were married for over 40 years and bought this house in 1973. I am 63 now but I am not on this loan. I also had my income cut in half but now I have ALL the bills on top of this. I don't think I can stop this foreclosue but is there any way I can get the remaining amount he did not pay me. I never got a dime from Financial Freedom even tho they knew this the day I signed the papers. I've lived here since 1973 and suddenly all my life does not matter at all., They put his name on the grant deed as an "unmarried man" and that is not true. I did not sign off to give this to Financial Freedom, but it looks like they can do as they please and it is just to bad for me. I have talked to people and once a rev mtg is mentioned, they all seem to think nothing can be done. I don't know why they didn't pay me direct to begin with, but they gave him all the money.
Hi sjg,
As your husband is now deceased, I don't think there is any way you can get the remainder of the money you were supposed to get. The reverse mortgage holder will foreclose on the property and sell it to recover their money. If there remains any excess amount of money after the reverse mortgage has been paid off, you may recieve your money. But if there is not much of equity in the property, I am not sure how you will get the money. By the way, was there any written agreement between you and your deceased husband regarding the money he was supposed to pay you?
As your husband is now deceased, I don't think there is any way you can get the remainder of the money you were supposed to get. The reverse mortgage holder will foreclose on the property and sell it to recover their money. If there remains any excess amount of money after the reverse mortgage has been paid off, you may recieve your money. But if there is not much of equity in the property, I am not sure how you will get the money. By the way, was there any written agreement between you and your deceased husband regarding the money he was supposed to pay you?
The divorce papers had it in them and were filed with the court, but when it was dismissed i don't know what that did. There was a les pends ?? filed but i don't know if that has any power since the divorce was cancelled saying 'all dismissed. I think I really got the short end of the stick and i have lived here 36 years. It doesn't matter that they gave him all the money knowing I signed off with that agreement? They taked to both attorneys. They recorded the deed as an 'unmarried man', which was not true, I have asked them for a little time to pay this off, and they refuse. It isn't like I am a golddigger and only married a few years, It makes me wonder if things are really fair anymore. I would never recommend a reverse mortgage to anyone regardless. In the end they own everything someone has or anything the family might inherit, They own enough houses with all these foreclosures as it is, The sad thing is it was our equity, not even a loan we were paying on, We never even missed a payment all those years. He did pay me some so that is good but i think it was about $15,000. my attorney was gong to put a lien on the house for.. Don't people have any rights in a situation like this,