Valued Contributor
GregB
Posts: 1,670
Registered: ‎05-24-2007
Re: Foreclosure
[ Edited ]

When your husband married his previous wife, the law bound them together in many ways. His divorce separated many of those ties, but not ALL of them. The mortgage company loaned money to both of them so they are both responsible for the debt. The mortgage company does not care about any orders made in the divorce since that involves only your husband and his ex.

 

I'm sorry to say that it IS his foreclosure. You should also check to make sure he wont get a 1099 for the "profit" in getting out of the loan or that the mortgage company can't come after him for the shortfall. Hopefully you are not in a state that allows recourse.

 

I suggest you post the state involved. Also post if it was a mortgage for purchase or a refinance since that can also make a difference. Somebody else could take that information and give you some more information that should help.

 

He can go after his ex for damages but that is difficult, at best.

 

Sorry to be the bearer of bad news.