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Voluntary Foreclosure of Marital Home

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  • 01-11-2006, 01:38 AM
    israel
    Voluntary Foreclosure of Marital Home
    Hi!I'm going trugh my divorce 1,2 year and The judge finaly sad I can sell the house,wrich is only under my name.I found a buyer but my ex wonst more money.Because I don't have money to pay the house more longer I decided to give it back to the bank.Can You please, tell me is there something that they can do to me,for exsample make me pay the diference from the pricel?I'm in Chicago,Il
  • 01-11-2006, 11:31 AM
    Mr. Knowitall
    Foreclosure of Home
    If you let the bank foreclose to avoid paying your wife her share of the equity in the home, the court may order you to pay that amount anyway. If the bank sells the home for less than the value of its mortgage, it can ordinarily go after you for any shortfall (along with the cost of the sale).
  • 01-11-2006, 01:11 PM
    israel
    Mr. Knowitall
    I don't live in the house since the begining of the divorce,but never stoped paing the mortgige and child support.Now I'm realy brocked.If I don't give it back to the bank,/I was just trying to save my credit history/,they will take it away.In that case can the court make me pay the diffrence?Thank you for your help!
  • 01-11-2006, 05:26 PM
    Mr. Knowitall
    What I said before means "yes". But if putting it into the form of a single word makes it more plain, there you go.
  • 01-12-2006, 01:31 AM
    israel
    Mr.Knowitall
    Excuse me,I didn't get it! What kind of form you talking about?
  • 01-12-2006, 04:59 AM
    israel
    Mr.Knowitall
    I'm so desperated.I want to explain my whole situation. i left my house about 2years a go because I was under domestic violetion.
    3 months after I left my home,my ex actaked me in front of my kids and she broked my head. I got order protection, but the lawyer that I had for the moment couln't do or me anougf.
    for the moment I never stoped paying my mortgage even if I new that my ex living there with that real father of my first son, I don't have any prove that real father livef there, but I get a other attorney to help me, know he said the I have to keep paying the house the I left 2 years a go , I don't have any money to keep paying the house and I can prove it
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