Legal Question in Real Estate Law in California
my name is Cristina. I just got divorced last year and my ex husband never put my name on title and loan of our house when he said he would. judge ordered him to put my name on title and to assist me with trying to modify or refi on home. The mortgage loan is under his name and he stopped making payments without my knowledge. the bank nationstar told me they would initially assist me with modifying loan they told me to send them all the required documents and divorce decree and what was asked of courts. I sent them everything.. They told me not to make payments or property taxes until modification was taken care of. i waited several months and finally called to check on status of modification. They said they denied it because loan was in my ex husbands name which they already knew from start. They are now telling me that the loan is not assumable. my ex husband said he would sign loan over. what rights do i have to save my loan and modify it
1 Answer from Attorneys
Short answer. . . . NONE.
A divorce decree does not modify the loan contract, it only gives you the right to go on title to the property. I have had countless problems with Nationstar getting a modification for people who appear qualified. Your Ex can sign over title to the property to you and he should have done that already.
Next consult with a Bankruptcy Attorney who specializes in Chapter 13 bankruptcy. I have had some success in situations like yours saving homes from a foreclosure and arranging a way for you to get current on the mortgage. Once that happens, you could be in a position to potentially refinance the property back into your name based upon the equity that may exist in the property. However to make those determinations a consultation is vital!
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