All Forum Posts by: Account Closed

Appreciate the replies. @Bob Malecki What if during the loss mitigation I let the bank know that I have a party interested in buying the note at fair market value? I'm thinking even if I got the note into the hands of the 3rd party they would need to foreclose on me, purchase the property at auction and sell it back to me to clear her name from the deed.

Yep, don't know the answer to that other than to make sure to be the highest bidder.

I'm going to be very honest about my situation. What I'm wanting to accomplish may be immoral but I'm looking for a legal way to get my bank to sell my mortgage to a trusted 3rd party. My soon to be ex-wife and I are both on the deed but only I am on the mortgage. I would like to sell the property, split the proceeds and go our separate ways. She has decided to move back in and refuses to sell. My idea would be to go into default on the loan, have my trusted 3rd party purchase the distressed note from the bank(not for a discount), and then refinance my mortgage through them with only my name on the deed so that I can sell. Any thoughts?