Posted by Renee/MI on May 16, 2007, 3:23 am, in reply to "Shaky Deal" This market is causing a lot of less-than-usual ways of resolving such situations. My own brother divorced last year, court granted him 6 months before even TRYING to refi. Another friend who divorced got a year - now the year is up, house hasn't/can't sell for what's owed, he can't afford on his own income (X has been paying 1/2 all year), the COURT is telling them to foreclose. Nuts. --Previous Message--
68.40.46.33
X is apparently still holding interest on title. Likely we'll be seeing this more often, as people who divorce may be unable or discouraged from trying to sell until the market recovers, might not be enough value or credit stability to refi for enough cash-out to buy out the X, either.
: Anyone ever run into this situation?
: Three people signing Deed of Trust
: Husband, Wife, X-Wife?
:
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