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short sale

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Kawasaki1967

Junior Member
What is the name of your state (only U.S. law)? MN. Hello and my apologies on my blank post earlier. Here's the question. My wife and I are divorcing and she moved.out August 1st and I've been on long term disability for 19 months with no revolving debt however with that I am unable to qualify alone on the house and the day the realtor was here he was telling us how we will get 1099'd on the upside down amount but the program for writing off you having to pay taxes has been extended through 2016 and he said each state had to pass it's bill and he said they were all following suit with what the feds did and it's just a formality but Minnesota NEVER got to that bill and Dayton wouldn't call a special session. And I've maintained all along I can now way be out until at least the 1st of November but that didn't matter to him if I was homeless or not and mind you she took our only car when she left and see her mother's rich husband were talking easily 500K a year is paying for her divorce and they all jumped me when I wouldn't sign and walk away but I wanted to find out about the 50 grand I have in inheritance money into the house and the ONLY way my atty said I'd be able to get any of that money back was to not be upside down on the mortgage. So with this upside down amount they 1099 you on, could I ask to have the entire upside down balance put onto my soon to be ex wife so would be responsible for the entire upside down amount and keep the short sale off my credit and she'll be on the hook for all the taxes for state as after all 21K I spent on the kitchen to redo and we never would have got the price we did. So please advise if passing all the debt is an option and what would they do if i backed out though my reasoning us being told not to worry it'll pass and my wife wouldn't lie under oath and she knows he said that, also after 13 days and 21 showings we got only 1 offer 5K under the asking price and my wife that day had her attorney email me threatening me if I don't sell as SHE was the one that set the asking price and the only offer at that time was 140K and she calls her atty when I told her I'm not calling him cause I want full asking price which you set and the day her atty send threating email we got 2nd offer for asking price and the day after that realtor came over showed both offers and looks at ME and I said I don't want another email from her atty so she can decide so she chose the lower offer case it was more of a guaranteed sale and I'm just not happy with all this and especially the state taxes he said not to worry about. So please could I refuse to close as if I'm gonna have to pay state taxes on 15,000 personally I'd rather let it be foreclosed on so I can save to move versus being given money like was done for her. Could they force me into selling or do I have half a good reason to not wanna do this besides not wanting to be homeless? Not sure if it matters and again though she wants a divorce she's not gonna lie it wasn't til after we signed the agreement that he tells us that you get 6 months to live for free teen wither try to redeem yourself or to save money to move and being on a limited income and having to pay an atty over 600 a month for the last four months and now have to pay 500 a month til she's paid in full and that only leaves me 1242 a month and I have no car and I only have 425 in my bank account if it matters. Sorry for rambling I just am scared of being forced into homelessness. It's bad enough she took almost everything I was left with a couch she picked out that I've always hated and a big mess. PLEASE HELP THEORY BEST YOU CAN AND BLESS YOU IN ADVANCE FOR YOUR HELP, I apologize I'm not the smartest bulb on the tree and have hard time explaining so please bear that in mind.
 


LdiJ

Senior Member
That was incredibly difficult to read, and I am not entirely sure that I completely understood you. You might want to try breaking that up into paragraphs with white spaces in between, and try also to use some more punctuation.
 

Kawasaki1967

Junior Member
Sorry. Short version is to try to reclaim any inheritance money I spent I can't get back they'll 1099 us about 15000 each could somehow that be pushed on to her to be rresponsible for it all?
Besides the realtor said not to worry the program has been extended til the end of 2016 where they wwon'thold you liable for the taxes due from the uupside down amount and the Feds extended it and each state had to each pass bill going along with the Feds only MN never got to that and Govenor Dayton wouldn't call a special session to pass the rest. I suppose he should have advised me to maybe add a clause or what ever you call it in case of that, however we didn't.
hope you'll be able to answer now and I apologize for all the bad paragraphs I'mjust really stressed.
 

Shadowbunny

Queen of the Not-Rights
Sorry. Short version is to try to reclaim any inheritance money I spent I can't get back they'll 1099 us about 15000 each could somehow that be pushed on to her to be rresponsible for it all?
Besides the realtor said not to worry the program has been extended til the end of 2016 where they wwon'thold you liable for the taxes due from the uupside down amount and the Feds extended it and each state had to each pass bill going along with the Feds only MN never got to that and Govenor Dayton wouldn't call a special session to pass the rest. I suppose he should have advised me to maybe add a clause or what ever you call it in case of that, however we didn't.
hope you'll be able to answer now and I apologize for all the bad paragraphs I'mjust really stressed.

This really doesn't help clear things up. You can go back and edit your first post, add some paragraphs (by hitting the Enter key a couple of times at the end of each paragraph), and take out anything that isn't relevant (info about rich husbands and bank account balances). The easier (and more concise) your post is to read the more likely someone is to respond.
 

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