Ignore him… and save the house… - Posted by leslie
Posted by leslie on November 26, 2000 at 16:34:24:
Actually getting him off the deed may not really be necessary in order to accomplish your goal.
It sounds like he is already out and gone. This is an important fact. She has possesion. Can she get an order (court order) to keep him away?
This is very common, and I think fairly easy to do.
You might simply bring the loan current and keep her in there. That saves the home for her and daughter, and solves that emotional part of the equation.
If you wish, the funds needed to do that could be secured. This could be a loan on a non-recourse 2nd. Non recourse meaning you could foreclose later w/o her liability. This may be of some use later. In my state it would only encumber her interest in the property, but you may not feel you even need that. It could be a personal note or just a handshake, or a hug, depending.
In terms of getting him off the deed, he will need to have incentive. That might be money, another property, a harley, liberal visitation rights, who knows.
You can possibly push him off the deed if you can control any lien that is in front of his interest. This was mentioned earlier, as in buying any existing notes.
Not all notes can be bought, often they are bundled, and not for sale seperately.
I wonder if:
Could you buy a note that possibly secures his vehicle, or some other debt of his, and make him a deal, like an equity trade ?
Sign over her interst in the comming joint tax refund to him ?
Leave him and her on the deed, bring it current, and look for a court ordered sale down the road.