Stopping forclosure after stay lifted?

[LifeNLemons]

I filed BK and included the house that my ex hadn't made a payment on since Aug 07. There was a hearing to lift the stay on 1.15.08. (nothing is showing up on PACER, btw)

Anyway, now EX is saying that he's got PrePaid Legal Services working on allowing him to keep the house. That if Wells Fargo files for forclosure, that his attorney will file something to stop it, and will basically force Wells to allow him to pay "whatever he can" and keep the house. Because Wells doesn't want to mess with PPLS, who has a $600M backing.

HE hasn't made the payment in almost 6 months. HE hasn't had a stable income since July. Yet he's going to FORCE Wells Fargo into accepting his terms? There's no way in heck, right?

Personally, I don't care what happens to the house. I just can't believe that he'd have the ability to force the bank to do anything. Like they will just say, "sure! you don't have a job, and you haven't been making payments, but go ahead and keep the property!"

Oh, and he's also under the impression that PPLS will do all of this for $45 a month. Guess he didn't read the fine print.

[253BK]

I dont know about 45$ per month but I know this banks do not want these houses back for every one house they take back on the books they lose about 10 loans that they could have made becuase investors look at them holding houses like bad credit!

I work in the real estate field and foreclosures are up like 66% I would say he may be able to work a payment plan but it wont last forever they may say ok 6 months at this low payment to get you back inline but then this new payment of $$$ will be due!

Over all you really have to think this through and make sure the house is worth what you owe if you are filing anyways you credit will be a mess just let the house go and you would be suprised 2-3 years from now you will be able to get a FHA loan as long as you discharge and have clean credit from here on out!

Just my 2 cents hope some of it helps

[FreshLikeADaisy]

Life, at the very least it's suspect, because the mortgage (and presumably the deed) are in both your names, but somehow this attorney has been working magic for the ex alone.

AND, you bk'd on the mortgage.

AND you have no intention of reaffirming (if I remember correctly). I am assuming you indicated your intention to surrender the property in your schedules, which is not going to help him at all with Wells Fargo.

AND Wells Fargo has already moved to lift the stay, which is a pretty dependable sign that their next move will be foreclosure *regardless*.

All I know is that people much better situated than your husband in terms of money, sanity and legal representation haven't been able to save a home in Chapter 7 when the payments were behind, and not even as significantly behind as his are. If you want to reaffirm, it has to be current. But YOU don't want to reaffirm, he does. Hello?

But wait! There's more!

AND he has no stable income.

AND no mortgage payment has been made in six months.

AND (I'm guessing) no property taxes have been paid in that time either.

AND he has a Rent-A-Suit attorney on some minimally funded legal plan, who, I am thinking, is most likely not exceptionally motivated, and possibly not a genius.

Life, I gotta tell you, I'm just not seeing it. Everything about this says the opposite, that he is about to get eviction papers. If this atty can pull rabbits out of hats, that's fine, but ex is going to have to REFINANCE unless he can somehow get you to reaffirm and the bank to accept a reaff, because your name was on the mortgage and you're in bk with a declared intention to surrender. He CANNOT keep the current mortgage, not even on a ride through: Wells Fargo is looking to foreclose. And I don't see him able to refinance without another income.

If he has a new girlie footing all the bills, sure. But just him alone, on his credit, with his no stable income, very doubtful. This sounds like more like his version of a pissin' contest than anything else, to be honest.

I can't remember if you said that you were already divorced or just separated, but the last thing you want is for him to have your name associated in any way with whatever further financing arrangements he may be making. Also, it would not be unheard of for him to forge your name, and tell his atty, yes you signed something you didn't. So it might be worth a call to the Wells Fargo attorney to inquire as to the situation, and go from there.