Foreclosure question

[Brett13]

What is the name of your state? Alabama

My name is on a mortgage with my ex-husband, and I signed a quit claim deed over to him when we divorced three years ago, with the understanding he would refinance or sell. He has let the house go into foreclosure (the sale was yesterday...no buyers, so it's back with the mortgage company). I had tried to have him sign the deed back over to me, and offered to start making payments and sell it myself, but he never agreed to that. So I didn't want to make payments on the house if I wasn't going to have any rights in it. Of course, my credit is ruined for now. I need to know if there is any way for me to redeem the property by paying the mortgage company and work out some kind of refinancing into my name. I know there is a redemption period of one year in AL, but that would only be for who is on the title, wouldn't it? If it weren't for this loan, my credit would be perfect. I currently own a home in my name and have never been late on a payment, and I have been at the same job with pretty good pay for almost 10 years. Would that help my chances? The people at the mortgage company have not been much help, so I didn't want to contact them again unless I thought I had a chance. Any advice would be appreciated. Thank you.

 

[HomeGuru]

What is the name of your state? Alabama

My name is on a mortgage with my ex-husband, and I signed a quit claim deed over to him when we divorced three years ago, with the understanding he would refinance or sell. He has let the house go into foreclosure (the sale was yesterday...no buyers, so it's back with the mortgage company). I had tried to have him sign the deed back over to me, and offered to start making payments and sell it myself, but he never agreed to that. So I didn't want to make payments on the house if I wasn't going to have any rights in it. Of course, my credit is ruined for now. I need to know if there is any way for me to redeem the property by paying the mortgage company and work out some kind of refinancing into my name. I know there is a redemption period of one year in AL, but that would only be for who is on the title, wouldn't it? If it weren't for this loan, my credit would be perfect. I currently own a home in my name and have never been late on a payment, and I have been at the same job with pretty good pay for almost 10 years. Would that help my chances? The people at the mortgage company have not been much help, so I didn't want to contact them again unless I thought I had a chance. Any advice would be appreciated. Thank you.

**A: did you not post this thread before on July 14 2004, to which I responded?

 

[Brett13]

That was me

Yes, I did. I went to an attorney a couple of months ago, and they wanted $1K up front before they would do anything. Then they still couldn't guarantee anything of course. I just thought that since he will be out of the house now, he will have given up on ever getting it back. He has no finances to redeem it (and I can't see anybody else helping him out...he owes several family members and friends lots of money) When I wrote you before, I had never heard of the redemption law, so I was curious about it, now that I am at this stage in the process. Do you think I'm out of luck, or should I go back to the attorney and try once again? I just don't want to waste lots of $$ for nothing. Thank you.

 

[HomeGuru]

Yes, I did. I went to an attorney a couple of months ago, and they wanted $1K up front before they would do anything. Then they still couldn't guarantee anything of course. I just thought that since he will be out of the house now, he will have given up on ever getting it back. He has no finances to redeem it (and I can't see anybody else helping him out...he owes several family members and friends lots of money) When I wrote you before, I had never heard of the redemption law, so I was curious about it, now that I am at this stage in the process. Do you think I'm out of luck, or should I go back to the attorney and try once again? I just don't want to waste lots of $$ for nothing. Thank you.

**A: try this again. Go back to your original thread and post to continue that thread. Do not start a new thread as you have done here.