What can I expect?

[marie1965]

What is the name of your state? South Carolina.

I am scheduled to appear in court regarding foreclosure of my home.

Brief synopsis: My husband and I went through a divorce. The judge ordered the home be mine, and that I get the mortgage put in my name. I was approved for the loan and everything was fine until a title search was done. My ex had borrowed more money on the home, even after he was ordered not to tamper with the marital assets/liabilities, and he had stopped paying on a credit card (balance of $20,000), which is now a judgment on the home. Needless to say, I could not get a loan at that time because the debt exceeded the actual value of the house.

He stopped making the payments in the meanwhile without making me aware. Otherwise, I would've made the payments myself to prevent this mess. The bank will not even talk to me at this point and will not make arrangements at all. I am scheduled to go to court on 10/19/2005 regarding this situation. I was wondering what I could expect? Is there any chance a judge will try to get the bank to work things out with at this point? Or can I pretty much just hang it up? This is a HUD loan by the way.

Thank you for your input.

[Ciarraine]

Originally Posted by marie1965

What is the name of your state? South Carolina.

I am scheduled to appear in court regarding foreclosure of my home.

Brief synopsis: My husband and I went through a divorce. The judge ordered the home be mine, and that I get the mortgage put in my name. I was approved for the loan and everything was fine until a title search was done. My ex had borrowed more money on the home, even after he was ordered not to tamper with the marital assets/liabilities, and he had stopped paying on a credit card (balance of $20,000), which is now a judgment on the home. Needless to say, I could not get a loan at that time because the debt exceeded the actual value of the house.

He stopped making the payments in the meanwhile without making me aware. Otherwise, I would've made the payments myself to prevent this mess. The bank will not even talk to me at this point and will not make arrangements at all. I am scheduled to go to court on 10/19/2005 regarding this situation. I was wondering what I could expect? Is there any chance a judge will try to get the bank to work things out with at this point? Or can I pretty much just hang it up? This is a HUD loan by the way.

Thank you for your input.

Let's get the chronology correct: Before or after your husband transferred the home to you, quitclaiming his interest in the property, did he get the home equity line?

Before or after the property was transferred solely to you was the judgment for the credit card entered?

Who is foreclosing, HUD or the home equity lender?

What you can expect is a very good chance of losing your home if you don't gather your documents and go see an attorney as soon as possible.

[marie1965]

He got the home equity line before quitclaiming and the judgment was placed on the home before he quitclaimed -- without my knowledge, and after the judge had placed specific orders not to do anything to the assets/liablities. I only found this out while trying to assume the loan.

The lender is foreclosure -- not HUD.

[Ciarraine]

Originally Posted by marie1965

He got the home equity line before quitclaiming and the judgment was placed on the home before he quitclaimed -- without my knowledge, and after the judge had placed specific orders not to do anything to the assets/liablities. I only found this out while trying to assume the loan.

The lender is foreclosure -- not HUD.

Get an attorney, yesterday. Time is short and you have a lot of money at stake. You need a competent advocate for your issues.