Mortgage term what is 3'd party on home...

[brokenheart]

...loan mean? I am going thru divorce and been married 12.5years .
I call mortgage co and they will talk to me somewhat on
other questions they will NOT answer as I am only
a 3'd party on loan and soon to be X is the borrower.
He has to give his permission for them to speak to me
about the mortgage. Please help.

[joy]

Hai !

It means that the mortgage payment went above their budget and can't make the payments.

[Lew-V]

are you concerned because you are going to end up with the house? if so, short of doing a refinance to get the loan in your name, i would be sure my divorce attorney got a specific power of attorney for you to give to the lender so they will talk to you.

[877YouKeep]

ok, no more guessing. What they are saying although you may be on the Deed, depending on your state to whether or not your state is a To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.. The way it sounds based on limited information you were not added to the mortgage (deed of trust) so you do not have authorization to get anything more than general information. You need To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. from your husband to get any detail information. On the To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. you will need to have borrower name (your husband name), SSN, Loan Number, address, date and signature of borrower. If you get this information you will need to fax to the lender and it will take anywhere from 24-96 hours to update in their system and then you will have the ability to talk to the mortgage company, otherwise you only get general information.

[Lew-V]

I'm sorry. I guess I am just nieve. You will have to teach us why you would advise someone to limit themselves to just asking questions and getting answers, instead of having the ability to do anything and everything the original borrower could do, whether or not you anticipated what that may be today. As a professional loss mitigator please explain how one would go about re-negotiating, AND SIGN OFF ON, new terms if the loan ever went into forclosure if all they could do was ask questions and get answers. The re-negotiating is easy, but what about the signing off part? If there was ever an escrow refund check, which would be written to the original borrower, how would you suggest it got cashed? If the loan is assumable, and down the road you wanted to allow someone to assume it, how would you authorize and sign off the paperwork to allow the assumption, if all you could do was ask questions and get answers? I could go on and on but, the point is, I don't understand why one should be limited to what they can accomplish, when simply choosing a different document (power of attorney) you can cover ALL the bases. I'm sure there is a method to your madness, you'll just have to explain it in detail, cause at this point I just don't get it.

I don't mean to carry on, but you accused me of guessing. I am here to learn, and to contribute if I am able, as are the rest of this forums participants. I feel I have something to contribute, but if you discourage me from doing so I will feel unwelcomed and will limit my contributions. Please let me know if that is your intention. I will shut up and just follow along, hoping to learn from your other contributers.