topic Re: Foreclosure in General Credit Topics

Foreclosure

athensguy — Wed, 04 Jun 2008 01:01:52 GMT

My wife has a foreclosure that resulted from a divorce (Wells Fargo, wouldn't let us catch it up, mean to us, etc.) where her ex got the house in the divore, but after about a year quit paying on it. Anyway, how is the foreclosure supposed to report on her CR? Does TC interpret it correctly?

Re: Foreclosure

Anonymous — Wed, 04 Jun 2008 01:28:49 GMT

If she was a joint applicant..she liable..unless it was part of the divorce decree...that the ex was liable for the house...I believe...maybe others will chime in with their input...

Re: Foreclosure

haulingthescoreup — Wed, 04 Jun 2008 02:20:42 GMT

I'm pretty sure that I've read that a divorce decree means nothing to creditors. I suppose you would need to have some sort of legal removal of your name from the mortgage to keep this from happening.

I've read about this so many times! Why on earth don't family court judges make sure that this is dealt with cleanly at the time?

Re: Foreclosure

athensguy — Wed, 04 Jun 2008 02:31:05 GMT

Indeed, it shows like this on her TC:

There is no PR, but is there normally?

Re: Foreclosure

athensguy — Wed, 04 Jun 2008 02:34:43 GMT

@haulingthescoreup wrote:
I'm pretty sure that I've read that a divorce decree means nothing to creditors. I suppose you would need to have some sort of legal removal of your name from the mortgage to keep this from happening.

I've read about this so many times! Why on earth don't family court judges make sure that this is dealt with cleanly at the time?

We saw the lates start to happen, but I wasn't on here, and I didn't know what I know now. We hired a lawyer, but they told us the wrong things. However Wells Fargo didn't even want our money (We offered to catch up the mortgage and move into the house, but they wouldn't let us).

However, we were able to buy a new house this year, I think partially because the FR isn't really reported on her CRs.

Re: Foreclosure

athensguy — Wed, 04 Jun 2008 12:06:05 GMT

I guess I was basically asking whether there should be a PR on her reports, and if we should worry about one showing up. It has been almost a year since the foreclosure sale.

Re: Foreclosure

Anonymous — Wed, 04 Jun 2008 14:38:19 GMT

haulingthescoreup wrote:
I'm pretty sure that I've read that a divorce decree means nothing to creditors. I suppose you would need to have some sort of legal removal of your name from the mortgage to keep this from happening.

I've read about this so many times! Why on earth don't family court judges make sure that this is dealt with cleanly at the time?

Correct.

A friend used a VERY expensive and VERY prominent lawyer for her long-running divorce. He never even pulled her CRs. I nagged her until she got them and I 'splained them. There was some very interesting information that was directly relevant to her case. I couldn't believe it wasn't part of the lawyer's MO to look at CRs.

Re: Foreclosure

Anonymous — Wed, 04 Jun 2008 14:47:40 GMT

@haulingthescoreup wrote:
I'm pretty sure that I've read that a divorce decree means nothing to creditors. I suppose you would need to have some sort of legal removal of your name from the mortgage to keep this from happening.

I've read about this so many times! Why on earth don't family court judges make sure that this is dealt with cleanly at the time?

True. A divorce decree doesn't mean doodly-squat to a creditor. HOWEVER, if it's in the divorce decree, she can go to the judge (take the doofus to court) and sue him. She can garnish his wages to pay it off, if need be. (some states allow this, some don't)

If it's derogatory enough or if he did it maliciously, I would!!!!

Family courts DO deal with this cleanly ... the problem is when the injured spouse either doesn't realize it's happening or doesn't have the $$ to go back to court and enforce the orders.

Message Edited by Wonderin on 06-04-2008 07:47 AM

Re: Foreclosure

Anonymous — Wed, 04 Jun 2008 14:45:10 GMT

erchambers wrote:
I guess I was basically asking whether there should be a PR on her reports, and if we should worry about one showing up. It has been almost a year since the foreclosure sale.

SOMEBODY, please correct me if I am wrong ... but I don't believe a foreclosure would show up in the PR section of a CR.

Re: Foreclosure

athensguy — Thu, 05 Jun 2008 19:15:58 GMT

Figured I would bump this one more time to see if anyone knows whether a foreclosure can/should have a public record.

Re: Foreclosure

Anonymous — Fri, 06 Jun 2008 00:40:53 GMT

er - I have the same question - I hope the answer is "no PR".........

If no response in a few days, I would PM one of the MOD's. That has worked for me in the past.