Payment or Foreclosure?

[Leetahkin]

Holy fuck what a bad day.
My ex got the house when we divorced, and per divorce papers he'd be responsible for the second mortgage in both our names. He had a year to take out a new loan in just his name. He hasn't, but has been making payments on time.

Not so anymore. He's behind a payment, and I've been in touch with the bank regarding how long it can be behind before they report it to the credit bureau as delinquent. 30 days is when they do, which is tomorrow.

I call the asshat today, and finally get a hold of him. Are you going to make a payment by tomorrow? No, he says, and after moaning about not having money for any of his bills, he hangs up. Fucker.

Now I have to make 2 payments to bring the account current so it doesn't hit my credit report. Then call the courthouse to see about suing him for the payments I'm making.

The real kicker, that I'm currently trying to not have happen, is that if there is available credit in the loan, you can withdraw that amount. So there is the potential that if I make a payment, he could go in and take that money out!!!

/end rant


Here's my questions...

How horribly would it affect my credit if I let the second mortgage go into foreclosure? If he's not paying the 2nd, he's probably not paying on the main mortgage (which I'm not on).

If I sue him for the money, he'd never pay it back anyways.

[CrystalTears]

Someone got fucked in the drive-thru.

[Sean of the Thread]

I can't believe you agreed to those divorce terms. Wait yes I can. How much can a trailer payment be anyways?

[El Burro]

The real kicker, that I'm currently trying to not have happen, is that if there is available credit in the loan, you can withdraw that amount. So there is the potential that if I make a payment, he could go in and take that money out!!!

How much principle do you think those two payments will add to his lootbag? Pretty sure it's insignificant if you look at the amount of interest your mortgage payments are.

In other words, he's not retiring on those two payments principle.

[Leetahkin]

Ty for moving this, Miss X, though I'm not sure CT's message should have been moved as well?

[Miss X]

Welcome. I was correct in moving CT's post also. :)

[CrystalTears]

You DID get fucked. I can't believe you agreed to those terms. You're better off selling the house and splitting the money between the two of you.

[DeV]

Shouldn't one of the stipulations of the divorce be that he take out a new loan immediately? I would never agree to such a thing. Your credit is at stake for a house you no longer have possession of. That is crazy.

[Leetahkin]

This guy is a loser. Even if it had a stipulation that it be done immediately, he still wouldn't have done so. He doesn't have the credit, I do.

[CrystalTears]

Shouldn't have agreed to anything that requires him to pay something that still has your name on it.

[Leetahkin]

Shouldn't have agreed to anything that requires him to pay something that still has your name on it.

Unless you explain, this comment made no sense. You're saying that I should have agreed in the divorce papers to be responsible for making payments on the second loan, since it had my name (as well as his) on it? Even though he got the house in the divorce.

[Warriorbird]

Take possession of the house.

[CrystalTears]

I'm saying that you shouldn't have agreed to anything that involves him paying when you're still responsible for it as well. ESPECIALLY since he got the house and you didn't. I would never agree to continue paying for a house that I can't even live in.

[Leetahkin]

Take possession of the house.

The house isn't in my name whatsoever. Only the second mortgage because we were married.

The first mortgage is in his name solely.

[DeV]

This guy is a loser. Even if it had a stipulation that it be done immediately, he still wouldn't have done so. He doesn't have the credit, I do.The stipulation would have afforded you at least minimal protection against something like this occuring.

[Leetahkin]

I would assume that regardless whether the stipulation said 90 days or one year, that it would provide the same amount of protection against this? It's over a year since the divorce; he didn't comply with the divorce papers.

Sorry if I didn't make that clear until now - it's been a year and several months since the divorce. This wasn't something that happened recently.

[Alfster]

Every day you prove how big of a fuckin' retard you are!

Rofl at what Xyelin said

[Bobmuhthol]

<<This guy is a loser.>>

Who's the bigger loser, the guy or the idiot that marries him and allows her name on his debt?

[StrayRogue]

The guy is a loser? You married him, you freak.

[Leetahkin]

He became loser when he hurt himself "accidentally" at work and I realized he wanted a free ride in life. I said see ya. He hasn't worked since the accident, and I hear is now thousands behind on child support with another ex-wife. Which is why I doubt I'll ever get payment from him if I sue him.

It's handled anyway. I made a payment to satisfy only the interest due, keeping it off the credit report. I'll be making a call to an attorney soon.

[Sean of the Thread]

I'll be making a call to an attorney soon.

Instead of asking text based gamers on an internet forum about a serious life altering situation?

[Czeska]

Oh good grief, X, stfu. Everyone asks opinions here sometimes. Pfft.

[StrayRogue]

I sort of agree with him.

All this is is just another cry for attention.

"OMG look at my shit life. Pity me. PAY ATTENTION TO ME".

[Miss X]

Id like us to at least try and ensure that this thread remains constructive in nature please. Thanks in advance!

[Wezas]

Some people ask us for mortgage advice, some people ask us which TV to buy.

One day they'll learn that 95% of the people don't know enough to be giving advice (myself included)

[SpunGirl]

I'm sure they're going to ask why this wasn't brought up sooner if he didn't follow the terms of the divorce decree. If he was supposed to secure his own loan within a year, you should have been on this months ago.

-K

[Bobmuhthol]

I didn't know Leetahkin could fit in houses.

[Alfster]

We learn something new everyday