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    ginalmondragon's Avatar
    ginalmondragon Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 8, 2013, 08:45 PM
    Mortgage
    Getting Divorced. The wife wants the house but we are upside down with it because of the 2nd mortgage. Nobody will refinance in her name. We are willing for her to take the house and I will pay the 2nd mortgage but again no one will touch it. I can't live like this anymore so I want to stop paying and let it go into foreclosure and just move on with my life. What do you think?


    Bill
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    May 9, 2013, 03:14 AM
    The divorce decree will dictate this. If she is awarded the house, you may be required to pay the mortgage. You won't always be upside down. At some point you may find someone to refi
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #3

    May 9, 2013, 05:21 AM
    Highly unlikely the owner of the 2nd mortgage will foreclose in the event you stop making the payments. Lien stripping via bankruptcy may be an option.
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