Claification on Foreclosure in SC

[confusedinsc]

What is the name of your state? South Carolina

Hello, I went through a CH 7 bankruptcy, and then followed with a divorce in SC. I moved out of the house in Nov. 2001, to be legally separated for the divorce. My ex remained in the house. We later filed CH 7 jointly in Aug. 2002. Included the house in the BK.

I signed the original note, however, my name was not on the mortgage. Only my ex's name was on the mortgage, because I had not interest in the house at the time, as we were not married. I only signed the note as a guarantor since she did not have enough income. That was back in 1997.

In 1998, we married.. my name was still not on the deed. In 2001, we got a 2nd mortgage to pay off bills (getting ready for the divorce) and my name was added to the deed.

The BK was dicharged in Dec. 2002. However, the Master Deed, or the house was sold in Foreclosure following the BK in Sep. 2003. Only my ex's wife was on the Master Deed, and she was the only one the bank was filing "judgement for note and mortgage" in the foreclosure. I was named in the Lis Pendens since I my name was on the deed at that point, however was never on the mortgage. (I believe that is why they were filing judgement only on her in the foreclosure)

Also, in Apr. 2003, prior to the actualy foreclosure sale, we were divorced and she still was in the house. We could not address getting my name off the deed due to the fact the house we surrendered in the BK.

My question is how would I answer the questions regarding my involvement in a foreclosure. I am trying to get a house, and thought my only involvlement was a "guarantor" of the note, but not associated with the "mortgage" since it was not in my name. Not to mention, I moved out of the house and let her have it since Nov. 2001.

Another question, if I have had a foreclosure, which I am thinking I have, would a lender look for 24 to 36 months out for the BK discharge since the BK included the house? Or would it be 24 to 36 months from Sep. 2003 when the house actual sold? By the way, there was no deficiency in the sale.

Thanks for your help!

PS In South Carolina, I believe deeds and notes and mortgages are all separate entities, but not sure what that really means to me.

[HomeGuru]

Originally Posted by confusedinsc

What is the name of your state? South Carolina

Hello, I went through a CH 7 bankruptcy, and then followed with a divorce in SC. I moved out of the house in Nov. 2001, to be legally separated for the divorce. My ex remained in the house. We later filed CH 7 jointly in Aug. 2002. Included the house in the BK.

I signed the original note, however, my name was not on the mortgage. Only my ex's name was on the mortgage, because I had not interest in the house at the time, as we were not married. I only signed the note as a guarantor since she did not have enough income. That was back in 1997.

In 1998, we married.. my name was still not on the deed. In 2001, we got a 2nd mortgage to pay off bills (getting ready for the divorce) and my name was added to the deed.

The BK was dicharged in Dec. 2002. However, the Master Deed, or the house was sold in Foreclosure following the BK in Sep. 2003. Only my ex's wife was on the Master Deed, and she was the only one the bank was filing "judgement for note and mortgage" in the foreclosure. I was named in the Lis Pendens since I my name was on the deed at that point, however was never on the mortgage. (I believe that is why they were filing judgement only on her in the foreclosure)

Also, in Apr. 2003, prior to the actualy foreclosure sale, we were divorced and she still was in the house. We could not address getting my name off the deed due to the fact the house we surrendered in the BK.

My question is how would I answer the questions regarding my involvement in a foreclosure. I am trying to get a house, and thought my only involvlement was a "guarantor" of the note, but not associated with the "mortgage" since it was not in my name. Not to mention, I moved out of the house and let her have it since Nov. 2001.

Another question, if I have had a foreclosure, which I am thinking I have, would a lender look for 24 to 36 months out for the BK discharge since the BK included the house? Or would it be 24 to 36 months from Sep. 2003 when the house actual sold? By the way, there was no deficiency in the sale.

Thanks for your help!

PS In South Carolina, I believe deeds and notes and mortgages are all separate entities, but not sure what that really means to me.

**A: the answer would largely depend on if there are any references to the mortgage or property on your tri-merged credit report. Such reference may include foreclosure, default, judgement, BK etc.

[confusedinsc]

There is no foreclosure, liens or anything on my report.

Only one Public Record: Ch 7 BK shows.

The "note" from the bank, shows "included in bankruptcy". I signed as a guarantor (before marriage) to pay, but I was not on the "mortgage".

Does that help?