Want a divorce but own a house w/2 mortgages not enough equity HELP!?

I want to divorce my husband but we have 2 mortgages the house is not worth what we owe. How do you get out of this? I am told that if we sold the house we would still owe what's left, we don't have that money avail. I don't understand the short sale, I just want to divorce my husband and he can't afford the house himself. What is a person to do?Want a divorce but own a house w/2 mortgages not enough equity HELP!?
Hire a good Real Estate attorney with Foreclosure experience. Explain your situation, and have them request a short sale. That is the process of offering your lender less money then what is owed on the house. A good attorney is best at this process. My experience with lenders is they aren't good at working with the public on short sales, they often won't return your calls, but they HAVE to legally answer an attorney, so find a good one that handles only real estate. If the lender thinks you are going to bail on the mortgage, then he might just take a short sale. Or call your lender and explain the situation and maybe they will refinance the house with lesser payments because of the hardship.





Other options, bancruptcy or foreclosure. Have you spoken with your divorce attorney? What does he recommend?





Vicki Watzlawick


Broker Owner


Exit Platinum Realty

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