Legal Question in Real Estate Law in Texas

I was awarded a house in a divorce decree. The note was in my EX's name. After the divorce, I put the house in an LLC and began renting it out. Originally the remittance advice came directly to my house and I paid the note. My Ex became controlling and stopped the direct delivery of the statement to my house. I became tired of begging him for the statement, so I would let the payment go delinquent a couple of months at a time. I just learned that the house is now in foreclosure. Evidently a voluntary election by him. My question: can the bank sell the house even though the deed is in the name of the LLC? What is my recourse. I can't speak to anyone, because I'm not on the note. I can't refinance it because it is in foreclosure. What can I do? I am willing and able to pay the balance due.


Asked on 9/12/11, 6:30 pm

1 Answer from Attorneys

If you have a divorce decree, then you do have the ability to refinance the note. If the bank won't listen to you, then you can sue the bank. Also, if you have the ability to pay the note, you can bring it current and stop the foreclosure. If you're unable to get anywhere, you can sue the bank to stop the foreclosure. Unfortunately, banks are more interested in giving the runaround versus solving problems, so you may have to get a lawyer involved to get anything done.

Dave

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Answered on 9/12/11, 9:20 pm


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