Ex-Wife on 1st mortgage, Ex-husband on 2nd - he won't cooperate

This is a discussion on Ex-Wife on 1st mortgage, Ex-husband on 2nd - he won't cooperate within the Real Estate and Property Law Questions forums, part of the Legal Questions & Answers Forum category; Hi, I own a SFR (primary residence) in Arizona and am the only one on title since 2006. The first is with Chase and I am the sole borrower. The ...

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    Ex-Wife on 1st mortgage, Ex-husband on 2nd - he won't cooperate

    Hi, I own a SFR (primary residence) in Arizona and am the only one on title since 2006. The first is with Chase and I am the sole borrower. The 2nd is with PNC Bank (cash out) and my ex-husband is the sole borrower. Our divorce was final in 2/2010. In 2009 he signed an authorization for me to negotiate with the bank and modify the loan. I took on the 2nd mortgage debt in our divorce as I thought I could modify the loans and stay in the property. I wasn't able to. The house is in foreclosure. I have it listed for sale. We have a reasonable contract. The first is ready to approve. The 2nd called me yesterday and said they are cancelling the file because my ex-husband won't cooperate. Our divorce decree states that he is required to sign any and all documents necessary. He doesn't care. It only helps him to cooperate with the short sale as the 2nd will be paid something. If they foreclose they get nothing and can go after him for the deficiency. I am getting ready to file ch 7 bk and am trying to mitigate the loss on the 2nd so that he can't come back after me years from now for the deficiency. I don't know if I can get a court to issue me a special POA and if that will work with PNC or what I should do.

    Thanks


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    Unfortunately I am not familiar with this area of law and your question is very complicated. I would recommend consulting with a local attorney.
    Legal Disclaimer: Answers to questions on this forum are for informational and educational purposes only and do not constitute Legal Advice. No attorney-client relationship is established through this forum.


 

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