Legal Question in Real Estate Law in Texas
possible foreclosure/judgment
In divorce, I gave property to ex-husband. The mortgage is still in both of our names, and he recently passed away...no will. Home is being lived in by squatters, no rent being paid...foreclosure eminent. I attempted eviction, but County court said I have no right to property because of divorce decree.
My question...if house forecloses, can lender file a judgment/lien against me that could cause me to lose my own home or assets?
1 Answer from Attorneys
Re: possible foreclosure/judgment
You can buy the loan from the lender and foreclose on the property yourself. That way you can save your credit and own the property if it has any value. The lender may be willing to sell for a discount. Unfortunately you need the resources to buy the loan.
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