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Debt Relief – Insolvency – Bankruptcy Information » Foreclosure Law » Can I get a foreclosure ( that is my ex’s) off my credit report without using an attorney?

Can I get a foreclosure ( that is my ex’s) off my credit report without using an attorney?

History : Through a previous (approx. 10 years ago) divorce I signed the deed and/or note and all rights over to ex husband for house. He stopped making payments and house was foreclosed and it is showing up on my credit report. I have disputed this potentially negative item twice. It states that I have joint responsibility with ex. How is this? Can I get out of this? How long does a foreclosure typically stay on a credit report? PLEASE someone, any advice?

My new husband (of 4 years) and I are wanting to buy a home, and this foreclosure is hurting us. Plus, it doesn’t help that I had to file bankruptsy around the same time as my previous divorce, because of ex not wanting to work out bills. Ex too, filed bankruptsy. Bankruptsy however will be off report in July 2008. But foreclosure happened in Dec. 2005. I’m so freakin’ depressed over this and hurt!
Thank you all for taking time out in your day to give me some advice and knowledge. Best Wishes, Melissa T.

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7 Responses to "Can I get a foreclosure ( that is my ex’s) off my credit report without using an attorney?"

  1. D--- says:
    Usually only seven (7) years.

    During my divorce – I had to do a deed in-leu of foreclosure – I could not get my husband name removed from my report because we were both named on the loan.

    But after 7 years – I wrote letter’s to all 3 credit agencies showing when the deed in-leu of foreclosure was finalized with the bank and they all removed it from my account.

    I just found this website – you might want to read the info listed within it…
    http://www.in.gov/dfi/education/pdfs/divorce.pdf#search='divorce%20credit%20problems

    Dealing with loans
    For many divorcing couples, the mortgage on the family home is the largest joint loan. Each couple has to decide whether the family home will be sold or whether one partner will remain in the house with the responsibility for paying the mortgage, taxes and upkeep.

    The final divorce decree is your guide in this situation. The agreement will usually give the party that is holding onto the house a certain time frame to refinance and get the mortgage in that name. The refinancing removes the other spouse’s liability, and in many cases, money from the refinancing will pay off that spouse’s portion of the equity in the house.

    “Getting your name off the mortgage is important for the spouse who is leaving the family home, as well as for the spouse who is staying there,” says Maton. It enables the partner leaving the house to get credit to buy a new home. “If you have an obligation for one property and are trying to buy a new one, that affects your credit score,” she adds.
    http://www.bankrate.com/brm/news/advice/20041022a1.asp

  2. mrscmmckim says:
    I have a credit dispute form and the addresses to all the credit companies. You can fill out the form and send it to the companies twice a week until the issue is fixed. They should by state law take it off within ten years but your state may be different.

    As to the connection, you are a victim under an archaic law! This needs to be fixed but I don’t see it happening any time soon since men are still in charge. According to these financial laws, you are your husbands property! Thus dually responsible.

  3. satarnag says:
    You signed over the title but weren’t relieved of the debt. A loan/mortgage on real property is seperate from title to real property.

    If you have a copy of the title you signed over, send it to the credit bureas asking them to remove the false information from their records. Keep on disputing it, pretty soon someone at the lender’s office will either get tired of responding to the credit bureas or miss the 30 day deadline.

    By the way, don’t buy into the male bashing fallacy that because men are in charge that the best interest of men are taken into consideration. In a patriachral society, a woman’s worth was always placed above a man’s worth. The Titanic is an excellent example of this. Also, using the same logic, when Marget Thatcher’s was in office in the UK, women’s interest were above those of men. Anyway, the fallacy of feminism should be discussed in lesbian coffee shops and not here.

    Regards

  4. mazziatplay says:
    Your mortgage consisted of two documents; a deed of trust or mortgage and a promissory note. When the property was awarded to your ex in the divorce, you probably signed a quit claim deed deeding him your interest in the property. That document had absolutely no impact on the enforcibility of the collection against the promissory note.

    The only way you could have been relieved of responsibility for paying on the note would have been for him to refinance the property.

    When he defaulted on payments on the loan, you were listed in the foreclosure action due to your liability on the note.

    Foreclosures are reported for 10 years.

    Just be glad that your lender did not pursue a judicial foreclosure that would have entitled them to a deficiency judgement. Doing so would have created a debt that they could have continued to collect despite their recovery of the property and would have prohibited you from purchasing real property until such time as it was paid and released.

    You may want to submit a “Consumer Letter” to the 3 credit bureaus explaining the circumstances. If the lender did not pursue you for payments and you received no notice of the foreclosure, you will want that to be noted in your credit history. Be aware,however, that all parties to a foreclosure are required to be notified by certified mail in order for the action to be enforcible so you must have been notified.

    Too many divorce attorneys either do not know or understand the potential liability for the divorcing party releasing interest and so do not advise their clients accordingly.

    Sorry.

  5. thetoothfairyiscreepy says:
    YES, you DO have responsibility for this item. signing over the deed does nothing but transfer the ownership interest to him entirely, but you are both liable for the mortgage.

    i believe a foreclosure can stay on your record for 10 years. you should check to see if the amount of the loan has been satisfied. if it has not, a deficiency lien can be placed agains both you and your ex’s credit reports.

    the only way to remove yourself from a mortgage is to either 1. pay it off, or 2. refinance and exclude your name from the new mortgage being applied for.

    i hope this helps!

  6. mzfilly says:
    Okay, so everyone has given you plenty of answers about the problem, but how about the solution??

    I am unclear as to WHY you are having trouble obtaining a mortgage at this point. The thing about credit history is just that… it is HISTORY.

    According to your information, this was in the past, and I see no other reason listed for why you are having trouble obtaining financing now. You need to see what is inhibiting you and your new hubby TODAY.
    Get your reports.
    http://www.annualcreditreport.com
    See if there is anything new to dispute.

    Find a good home loan consultant to review your report with you, to see where there are potential problems. Maybe it is more than what meets the eye on your credit reports….Maybe it is your income? Maybe it is your debt? Maybe you need more assets? It is hard to tell from your post.

    Feel free to contact me, as I am a licensed home loan consultant with a nationally known direct lender. I handle cases such as this on a regular basis. People can get home financing in almost every situation, as long as there are compensating factors elsewhere.

    In the meantime, don’t dwell on the past. Move on (and hopefully IN) to the future ASAP!

    Best of luck to you.

  7. hithere2ya says:
    Even though you signed away your rights to the property, unless you get a release from the mortgage holder you remain equally responsible. The divorce decree can- and should always state that your ex-spouse must make the payments and, if they fail to so do, you may have a court action against them for failing to obey the court order. If they violated a court order the judge will take action against them but the court needs to be told. Additionally you may be able to file suit for damages but you need an attorney to advise you here.

    Another thing in your notes is that you filed bankruptcy. If you named the mortgage holder in the bankruptcy then they are out. If not then you are still obligated. A bankruptcy can be overcome in 2 yrs with no negative credit in between, no slow/late pays, not outstanding unpaid collections or other/current debt in arrears. FHA is a good program for such. I used FHA after my 1986 bankruptcy to buy a home in 1989. I had to write an explaination to the lender and showed proof which allowed them to do the deal. Lenders want to loan money, but have to have reasonable certainty that you’ll repay it as agreed. You may get a great rate, or higher rate if other than grade “A” credit due to the risk of default. If the risk is deemed too great for default then you’re declined for a loan. Race, handicap, gender, national orgin, religion, familial status- these things have no bearing on the loan qualification process or the lender violated federal law.

    Back to the divorce. Courts typically will not remove you from a lender’s security agreement that you willingly signed. You are legally responsible until it is repaid in full or refinanced which is the same as paid in full. It will remain on your credit record for a number of years (I think 10), and up to a point you may also be sued for the deficiency if any but usually lenders will not do that.

    Alternately you could have, upon proper notice of default taken over the payments, had the ex-spouse removed from the deed and then sold the house yourself- maybe for a profit. You may also show a copy of the divorce decree to the new lender (assuming you are applying for a loan) that shows the ex-spouse’s obligation to pay the note under court order. Again a violation of the court order does not absolve you of responsibility but the court order can make life easier for you.

    Alternately, as a signatory to the note, if you were not properly notified of the default status of the note and you were not given proper notice of the pending foreclosure, you may have recourse against the foreclosing lender and therefore a claim against the property. Most smart sellers will include a title insurance policy as part of the sale to the new buyer that will pay off in the event of an unknow issue that comes to light on a real property after closing. I personally never buy real property w/o an owner’s title policy, especially with divorce running as high as it is.

    You may have such a claim. Again it is worth discussing with an attorney whose practice involves real estate. Your state or the state the home was located in may not recognise legal specialties, but attorneys sometimes choose a particular field to practice anyway and focus on that. You need such an attorney> A good one, like a good real estate broker will be more than worth their fee.

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