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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Foreclosure - The beginning Posted by Bill on June 28, 2001 at 10:34 AM I have a friend who owned a house w/husband (1988). They got divorced. Wife filed a quitclaimdeed to husband as part of the divorce. Loan was never paid off or refinanced by husband. Husband sold house to someone 3 years ago. they assumed the mortgage. Wife never signed any paperwork regarding the sale/assumption, presumably because she had quitcliamdeeded the property to the husband). The new owners have defaulted. Husband & wife are now being served with papers regarding the impending foreclosure. Husband doesn't care what happens to house. Wife went to her lawyer who said it would cost at least 1200.00 to answer the summons. Wife doesn't have the money. Wife has her own house with her own mortgage at this point. Wife has house, car and maybe 7000.00 of debt of her own. What are her options? If she doesn't answer the summons what are the ramifications? Does she need a lawyer to answer the summons or can she do it herself? The house is not worth the outstanding balance on the loan. The wife is worried she will be required to file bankruptcy if they come after her for anything. She lives in NY state. I know this was a very long note, but any help would be greatly appreciated. Thank you. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I have a friend who owned a house w/husband (1988). They got divorced. Wife filed a quitclaimdeed to husband as part of the divorce. Loan was never paid off or refinanced by husband. Husband sold house to someone 3 years ago. they assumed the mortgage. Wife never signed any paperwork regarding the sale/assumption, presumably because she had quitcliamdeeded the property to the husband). The new owners have defaulted. Husband & wife are now being served with papers regarding the impending foreclosure. : Husband doesn't care what happens to house. Wife went to her lawyer who said it would cost at least 1200.00 to answer the summons. Wife doesn't have the money. Wife has her own house with her own mortgage at this point. Wife has house, car and maybe 7000.00 of debt of her own. What are her options? : If she doesn't answer the summons what are the ramifications? : Does she need a lawyer to answer the summons or can she do it herself? The house is not worth the outstanding balance on the loan. The wife is worried she will be required to file bankruptcy if they come after her for anything. : She lives in NY state. : I know this was a very long note, but any help would be greatly appreciated. Thank you. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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