My first client threw me with a curve ball - Any Advice?

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?


You need both parties to be on board with you doing a short sale. If the ex husband doesn’t agree you’re wasting your time. As far as 60% ownership, I haven’t heard of that before, you’ll need to get more details.

Again the ex-husband has to give loan authorization in order for you to talk to the lender.


Thanks for your very quick comment.