Cavalier, ND asked in Bankruptcy, Family Law and Foreclosure for California

Q: Divorce/Foreclosure

My soon to be ex left me with the house in California. I cannot afford it and she won’t sell. Cannot afford to get atty involved as there is no gain. Should I just go through foreclosure?

3 Lawyer Answers
Harlene Miller
Harlene Miller
Answered
  • Bankruptcy Lawyer
  • Irvine, CA
  • Licensed in California

A: Is a divorce pending? Will you be entering into some type of property division agreement? If so, and she releases her interest in the property, you may want to consider selling the property. If there is no equity in the property (is that what you mean by "there is no gain"?) - a short sale (selling for less than owed, with cooperation from the lender(s) to take less than owed) might be an option - eliminates foreclosure on your credit. Without her cooperation, you can't sell unfortunately. Then the only option is remaining in the property as long as you can - awaiting for the lender to proceed with foreclosure.

Theodore Allan Greene
Theodore Allan Greene
Answered
  • Bankruptcy Lawyer
  • Sacramento, CA
  • Licensed in California

A: You should not allow it to go into foreclosure if you can. Of all your options foreclosure does the worst to your credit record. I have helped 100's of people do a short sale in similar situations. You can call me to discuss at 916.442.6400.

Maurice Mandel II
Maurice Mandel II
Answered
  • Consumer Law Lawyer
  • Newport Beach, CA
  • Licensed in California

A: While a short sale is a possible solution, do not think that it won't have a negative impact on your credit. It may not be as bad as a foreclosure, but it negatively impacts you.

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