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Title: Foreclosure do to BPD Post by: peiper on November 29, 2014, 06:47:50 PM Does anyone have any advice on how to stop a foreclosure. When the BPDexw left it put me in a bad spot.
Title: Re: Foreclosure do to BPD Post by: power thru on November 30, 2014, 02:11:50 PM Depends on the situation. Couple of questions...
1 - Did you finance the home jointly? 2 - Can you afford the home? 3 - Has the foreclosure process already started? Title: Re: Foreclosure do to BPD Post by: peiper on November 30, 2014, 04:04:40 PM Depends on the situation. Couple of questions... 1 - Did you finance the home jointly? 2 - Can you afford the home? 3 - Has the foreclosure process already started? No it was mine when we married Yes I can afford it It starts in a few days Title: Re: Foreclosure do to BPD Post by: power thru on November 30, 2014, 06:30:32 PM Thanks for the specifics. This of course sparked many more questions in my mind...
Is the divorce final? Since the foreclosure starts soon, am I to assume that you stopped paying the mortgage during your divorce or as soon as your BPDex left? In my state it can take up to two years for a bank to foreclose even if you don't make payments, this is why I'm asking. Have you spoken with your mortgage company and explained the circumstances? Title: Re: Foreclosure do to BPD Post by: ForeverDad on November 30, 2014, 06:31:28 PM Depends on the situation. Couple of questions... . 1 - Did you finance the home jointly? 2 - Can you afford the home? 3 - Has the foreclosure process already started? 4 - Do you have possession of the house? If she's still living there, then stopping the foreclosure will likely enable her to drag things out even more. If she is there and hasn't been paying, have you gone to court to get possession back? I know a foreclosure does impact your credit rating and hers too if she was on the mortgage. If the house is foreclosed and sells for less than the loan amount, are you stuck paying the difference? But sometimes it is safer to take the foreclosure drubbing in a high conflict divorce. There is no single simple answer. Title: Re: Foreclosure do to BPD Post by: peiper on November 30, 2014, 07:20:11 PM Thanks for the specifics. This of course sparked many more questions in my mind... Is the divorce final? Since the foreclosure starts soon, am I to assume that you stopped paying the mortgage during your divorce or as soon as your BPDex left? In my state it can take up to two years for a bank to foreclose even if you don't make payments, this is why I'm asking. Have you spoken with your mortgage company and explained the circumstances? The divorce is final. I lost my job right after. Yes I've spoken to them, they are adamant that it will go into foreclosure Title: Re: Foreclosure do to BPD Post by: power thru on December 01, 2014, 09:20:03 PM I see. If the bank is adamant about foreclosing then you may just have to let the house go. It will hurt your credit but it will not last forever and you can slowly get your credit back. I would consult with an attorney to see what all your options are.
Title: Re: Foreclosure do to BPD Post by: stove monkey on December 04, 2014, 10:56:31 AM If you file bankruptcy, it will stop the foreclosure.
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