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Old 10-22-2008, 06:35 AM
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Default What Happens After Foreclosure?

I was divorced in February and my ex got the house in the divorce. However my name is still on one of the mortgages and she hasn't paid it since April 2008. She states the house is going into foreclosure, as of right now the mortage that my name is on isn't at the foreclosure state yet. So I need to know what my options are and what will happen to me once it's foreclosed on. I no longer have any rights to the house, but I do know it is already REALLY messing up the perfect credit I had before all this. Please help! Thanks.Thanks for the responses. When I was going through the divorce, I asked my lawyer what I could do, and he advised me that there is nothing I could do in the situtation. With the market being the way it has been, she could not refinance the house to have it in her name only. But after the divorce, I was taken off the deed and the house along with all of it's contents were given to my ex.
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Old 10-22-2008, 09:47 AM
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Unless you plan on preventing the foreclosure, there's not a lot you can do. Once something does show up on your credit report, you may have some success by using the judges order from the divorce awarding the house to your ex. In theory, you are no longer responsible, but expect a fight with the reporting agencies and the mortgage company trying to clear your name. I'm not saying it can't be done, I'm saying expect a lot of effort on your part, with no guarantee of success.
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