Foreclosure due to divorce - ex-husband won't sign docs

[Cheyne M. Suker]

Hi Everyone - I have a lead on a house en route to foreclosure in Nassau county.  I'm just scratching the surface of the deal but it sounds like it would be a pretty good 'subject to' opportunity.  Anyway, the couple is going through a divorce and that is what is causing the foreclosure.  The (ex)husband was the bread winner and has since moved out, leaving the woman and kids in the house with no one paying the mortgage in over a year.  She tried for a loan mod but he refuses to sign the paperwork because he wants the house to be foreclosed so that it causes more trouble for his now ex-wife.  Both names are on the mortage and deed so they both need to sign off on any changes. 

 

Has anyone encountered anything like this before?  Is there anyway that I could still help this woman or will the ex-husband be able to block any form of assistance?

 

Thanks in advance.

Cheyne

[Joseph Dara]

Hello Cheyne these are the times that you should refer an attorney. With a good attorney she could seek pendente lite relief for temporary maintenance and support pending the outcome of the litigation. This would help her financially but  you could also ask that the husband be ordered to provide financials and cooperate with the lender. Please feel free to contact me in the future as I have experience with both divorce and real estate matters.    

[Cheyne M. Suker]

Hey Guys - I appreciate the responses but I think this one is a lost cause.  The wife said that the husband has wished some pretty extreme things upon her and made it clear that he is not interested in anything that may help her through this.  She seems to have lost interest as well as she no longer returned calls...very unfortunate situation.  Thanks for the suggestions though!

[3cp0wmutijua4]

I come across these all the time.  You will need the husband on board with signing necessary documents.  Your ability to coordinate this transaction so that you have full cooperation from both sides will determine if there's a potential deal. In spiteful scenarios, sometimes there's nothing that can be done.  You will have to point out the benefits to each party and they should outweigh any negative intentions of being spiteful to the other party.

[Arsene Remy]

Divorce deals are never pleasant in my experience, for the obvious reasons.  That being said, my angle would be to try and contact the husband directly.  Because of the nature of the situation, especially the emotinal climate involved, it's highly unkilely that the wife will have the ability to be an intermidiary between you and the husband.  Some men tend to be a but unsensitive in situations like this but most men are game to making some money. 

 

I would come up with a game plan in approaching him with a business opportunity in getting him a fair amount just to agree to a straight sell for profit (providing there's equity in the home). If the property is a potential short sale, it may be a bit trickier as the homeowner can't make any profit on the HUD-1. It doesn't help him to be an ass in this situation as his delinquent payments are also hurting him financially.

 

If you need any ideas, feel free to contact me. Depending on the location of the property, my team may be willing to buy cash. All the best!

 

Arsene Remy

Capital Equity Partners, LLC