I received the following reply to an ad I had on Craiglist about helping people avoid foreclosure.
“I am divorced, and am living in the family home. I have 60% ownership. My name is on the deed, but the mortgage is entirely in my ex’s name. Let me know if you think you could help.”
How can she have 60% ownership? Two options of avoiding foreclosure would be to work out a short term deal with the lender to get caught up with payments or refinance with the current lender. Since the loan is with the husband, is he the one that I would recommend do the above steps? If she has 60% ownership, can she contact a mortgage broker to refinance her mortgage, if there’s enough time?
Thanks.