HAMP vs HARP or "In House Modifications" on mortgage

[mariasoccermom11]

My house I have is owned and paid by my ex husband as part of the alimony plan. I was recently served with foreclosure papers. Thank god the mortgage isnt in my name I got out of it during the bankrupcty. But I know that my ex isnt paying the mortgage. His credit is bad for the government HARP.  And The mortgage loan is more then the allowable loan amount for hamp. He told me he called ocwen and they are working on a "in house modification". What is that? I cant lose this house me and my children live here. And the reinstatement amount is like 300k according to the lenders attorney.. What should I do? 

[ShanetheMortgageMan]

It's just a loan modification that isn't done under HAMP, because either it's not eligible for HAMP or because it's a better modification program than HAMP.

I am not sure what you mean by "I got out of it during the bankruptcy".  Are you on title?

[mariasoccermom11]

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@ShanetheMortgageMan wrote:

It's just a loan modification that isn't done under HAMP, because either it's not eligible for HAMP or because it's a better modification program than HAMP.

I am not sure what you mean by "I got out of it during the bankruptcy".  Are you on title?

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When my husband and I got divorced we agreed to take my name of the mortgage loan and the deed. His court order was to pay mortgage, supply me a car which i just got myself, and pay $8,000 in alimony which is failing to do. The mortgage loan is in serious default the arrears are about 300k and the payment is no longer affordable for my ex husband. i think they are trying to approve a modification

[ShanetheMortgageMan]

That situation definitely sucks.  But at least you aren't on title or the mortgage so if the home is foreclosed on, it won't impact your ability to qualify for a new mortgage of your own.  Since he's not paying you the $8k/mo of alimony you couldn't use that to help qualify though.

[mariasoccermom11]

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@ShanetheMortgageMan wrote:

That situation definitely sucks.  But at least you aren't on title or the mortgage so if the home is foreclosed on, it won't impact your ability to qualify for a new mortgage of your own.  Since he's not paying you the $8k/mo of alimony you couldn't use that to help qualify though.

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I know he has a business and he is only paying me like 4k thank god i have my parents they are helping me out. But its my 4 kids. And thats why when i filed bk i wanted to get removed from the mortgage. I owe 1.7M on the loan and its proably worth 1.2M; so its underwater... ughh i dont know what to do