The story of the soon to be divorced man who did not realize his wife had not paid the mortgage...just keeps getting better..or rather, worse. We told him to go to the bank and get the straight story from the lender's mouth as to what "the state of the state" was concerning the mortgage on his marital property. He left the home in November....and he trusted that his wife, who had always taken care of the bills, had been taking care of the mortgage as he believed she always had done.
A brief talk with the banker was very revealing. The mortgage had not been paid in 10 months...even though he had proof of deposits to the account that should have been used to pay the mortgage...Yicks !
I encouraged the husband to have his lawyer call me and I would explain a short sale if necessary and why we must proceed as soon as possible. In addition, "Agent Suzy" had mentioned that there were large holes in the drywall and the house was in serious need of a good cleaning. I explained to the attorney that this part of the story was "heresay" at this point but that the house...short or traditional needed to be cleaned and drywall repaired to entice any sort of offer....he agreed....and then,....said..."But, Mrs. Hanson....no matter how long the mortgage has not been paid, I don't think that the balance is anywhere near the assessment so they can't be upside down."
Golly gee whiz....I am thinking...and you agreed to Agent Suzy....what a surprise...
Stay tuned...more to a come..most probably a listing to take....or at least, put it in a short sale listing agent's capable hands and out of reach of Agent Suzy and the attorney....who knows the assessed value which of course will erase 10 months of non payment.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Ouch!!! Talk about someone getting the gold mine while the other got the shaft...
In this case...there will be no gold...no proceeds....and any trust there may have been went into the "all gone machine" which has to include the trust that the wife and HER lawyer had who knew nothing about it either...
Good morning Sally and David,
It's amazing what happens when there is a divorce..certainly not what is n the interest of both parties!
In the spirit of "getting back at" the soon to ex....credit is ruined, homes lost...property damaged...and no one "wins."
Something tells me, Agent Sally, that you are going to get a hand up on Agent Suzy and this situation. I cannot wait for the next episode of this show!
So the wife hadn't made a mortgage payment for 7 months before her husband moved out and he was oblivious? Surely there would have been non-stop collection calls and late notices and certified letters???? Hmmmm.