Please help!

[jk4120]

undefinedWhat is the name of your state? Illinois

I divorced my husband 18 months ago. At the time of the divorce we owned two properties. He got one and I got one. We each did a quit claim. His house is being foreclosed and I am told by the bank that I am still on the loan and therefore responsible for the payment on that loan. Evidently my attorney did not put an indemnity clause in my divorce decree. At this point she is not returning my calls. I have to appear in court in 2 days on this matter. I am in the process of selling my house and will walk away with approximately $20,000. Can the bank take my profit on the sale of my house? Do I have any rights to his property....can I try and sell it?

[HomeGuru]

Originally Posted by jk4120

undefinedWhat is the name of your state? Illinois

I divorced my husband 18 months ago. At the time of the divorce we owned two properties. He got one and I got one. We each did a quit claim. His house is being foreclosed and I am told by the bank that I am still on the loan and therefore responsible for the payment on that loan. Evidently my attorney did not put an indemnity clause in my divorce decree. At this point she is not returning my calls. I have to appear in court in 2 days on this matter. I am in the process of selling my house and will walk away with approximately $20,000.

**A: see below.

**********
Can the bank take my profit on the sale of my house?

**A: yes, provided the proper procedures are followed ie. foreclosure, judgement, garnishee of escrow funds or bank accounts etc**************

***********
Do I have any rights to his property....can I try and sell it?

**A: no, since you are not on title.


Lastly, your attorney that did the divorce is an idiot. Notwithstanding, an indemnity clause would not hold up and would mean nothing to the lender.. There should have been a mortgage refinance or property sale clause.