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May 19, 2011 at 5:13 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697777May 19, 2011 at 5:13 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697923
bearishgurl
Participant[quote=ucodegen][quote frenchlambda]The “stipulation and order” with the $85k never made it to the final divorce agreement.
[/quote] That is correct, and that is what may save you. The required reimbursement under the “stipulation and order” does not go away by omission in the MSA. You just have to be careful of blanket statements in the MSA which can make it go away.[quote Eugene]Whatever rights you have now, two months after the divorce has been finalized, and after countless signed papers, it’s really hard for me to say.[/quote]
My point too, though there is that outstanding $85K which may not have been addressed by the MSA. This is why I would have an attorney look at all of those, the sequence they were signed and why (show him all of the signed papers, leave nothing out). He gave up tangible value in the trust deed to receive a ‘promissory’ on the 85K. Unless the MSA addresses the ‘promissory’, it doesn’t unilaterally go away.[/quote]Agreed. uco, I like your anal-retentive style :=]
May 19, 2011 at 5:13 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #698279bearishgurl
Participant[quote=ucodegen][quote frenchlambda]The “stipulation and order” with the $85k never made it to the final divorce agreement.
[/quote] That is correct, and that is what may save you. The required reimbursement under the “stipulation and order” does not go away by omission in the MSA. You just have to be careful of blanket statements in the MSA which can make it go away.[quote Eugene]Whatever rights you have now, two months after the divorce has been finalized, and after countless signed papers, it’s really hard for me to say.[/quote]
My point too, though there is that outstanding $85K which may not have been addressed by the MSA. This is why I would have an attorney look at all of those, the sequence they were signed and why (show him all of the signed papers, leave nothing out). He gave up tangible value in the trust deed to receive a ‘promissory’ on the 85K. Unless the MSA addresses the ‘promissory’, it doesn’t unilaterally go away.[/quote]Agreed. uco, I like your anal-retentive style :=]
May 19, 2011 at 3:07 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #696992bearishgurl
Participant[quote=ucodegen]I know a Chinese lady who became an attorney after 50 (after her kids all grew up and left the nest) so it may not be too late.[/quote]
uco, I’m well past that age and am unable to get admitted into law school. I don’t have a bachelor’s degree :={
May 19, 2011 at 3:07 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697080bearishgurl
Participant[quote=ucodegen]I know a Chinese lady who became an attorney after 50 (after her kids all grew up and left the nest) so it may not be too late.[/quote]
uco, I’m well past that age and am unable to get admitted into law school. I don’t have a bachelor’s degree :={
May 19, 2011 at 3:07 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697677bearishgurl
Participant[quote=ucodegen]I know a Chinese lady who became an attorney after 50 (after her kids all grew up and left the nest) so it may not be too late.[/quote]
uco, I’m well past that age and am unable to get admitted into law school. I don’t have a bachelor’s degree :={
May 19, 2011 at 3:07 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697825bearishgurl
Participant[quote=ucodegen]I know a Chinese lady who became an attorney after 50 (after her kids all grew up and left the nest) so it may not be too late.[/quote]
uco, I’m well past that age and am unable to get admitted into law school. I don’t have a bachelor’s degree :={
May 19, 2011 at 3:07 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #698179bearishgurl
Participant[quote=ucodegen]I know a Chinese lady who became an attorney after 50 (after her kids all grew up and left the nest) so it may not be too late.[/quote]
uco, I’m well past that age and am unable to get admitted into law school. I don’t have a bachelor’s degree :={
May 19, 2011 at 3:04 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #696967bearishgurl
ParticipantEugene, why quibble over $5K to $10K in “theoretical” monies the “community” owes him when, if the tactic I suggested works, the OP can live in the same county as the mom, not have to move and just owe the 1st TD amt. That’s comfortable. If the wife had wanted the condo in the divorce (was able to refinance enough cash out to pay the OP his downpayment), I would wager her parents would not have even filed their trust deed or would have reconveyed their TD if they had filed it!
frenchlambda, did your ex sign a quitclaim deed on the condo over to you? Just wondering. This, in and of itself, does not absolve her from its underlying debt.
May 19, 2011 at 3:04 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697055bearishgurl
ParticipantEugene, why quibble over $5K to $10K in “theoretical” monies the “community” owes him when, if the tactic I suggested works, the OP can live in the same county as the mom, not have to move and just owe the 1st TD amt. That’s comfortable. If the wife had wanted the condo in the divorce (was able to refinance enough cash out to pay the OP his downpayment), I would wager her parents would not have even filed their trust deed or would have reconveyed their TD if they had filed it!
frenchlambda, did your ex sign a quitclaim deed on the condo over to you? Just wondering. This, in and of itself, does not absolve her from its underlying debt.
May 19, 2011 at 3:04 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697652bearishgurl
ParticipantEugene, why quibble over $5K to $10K in “theoretical” monies the “community” owes him when, if the tactic I suggested works, the OP can live in the same county as the mom, not have to move and just owe the 1st TD amt. That’s comfortable. If the wife had wanted the condo in the divorce (was able to refinance enough cash out to pay the OP his downpayment), I would wager her parents would not have even filed their trust deed or would have reconveyed their TD if they had filed it!
frenchlambda, did your ex sign a quitclaim deed on the condo over to you? Just wondering. This, in and of itself, does not absolve her from its underlying debt.
May 19, 2011 at 3:04 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697799bearishgurl
ParticipantEugene, why quibble over $5K to $10K in “theoretical” monies the “community” owes him when, if the tactic I suggested works, the OP can live in the same county as the mom, not have to move and just owe the 1st TD amt. That’s comfortable. If the wife had wanted the condo in the divorce (was able to refinance enough cash out to pay the OP his downpayment), I would wager her parents would not have even filed their trust deed or would have reconveyed their TD if they had filed it!
frenchlambda, did your ex sign a quitclaim deed on the condo over to you? Just wondering. This, in and of itself, does not absolve her from its underlying debt.
May 19, 2011 at 3:04 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #698154bearishgurl
ParticipantEugene, why quibble over $5K to $10K in “theoretical” monies the “community” owes him when, if the tactic I suggested works, the OP can live in the same county as the mom, not have to move and just owe the 1st TD amt. That’s comfortable. If the wife had wanted the condo in the divorce (was able to refinance enough cash out to pay the OP his downpayment), I would wager her parents would not have even filed their trust deed or would have reconveyed their TD if they had filed it!
frenchlambda, did your ex sign a quitclaim deed on the condo over to you? Just wondering. This, in and of itself, does not absolve her from its underlying debt.
May 19, 2011 at 2:26 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #696941bearishgurl
Participant[quote=bearishgurl]If this $85K is not addressed in the OP’s MSA, I think he should file for a “characterization hg” (of the 2640 amt). He can then file an abstract on the ex for whatever judgment is awarded to him and then get a writ of execution and lien her wages for payments until it is paid off (assuming other creditors have not already liened her wages). But he should only do this AFTER the negative real property issue is disposed of … in that order.[/quote]
On second thought, how about doing this right away, since you have the proof for $85K? Get the judgment against your ex ASAP. Then file the abstract and obtain your writ of execution. When her employer is served and calls her into HR, she will likely complain to her parents about it.
Then use this judgment as “leverage” against the parents – the parents execute a full reconveyance and the OP executes a Satisfaction of Judgment simultaneously in HIS attorney’s office with the bright sun streaming thru the windows. The parents will balk first, then consult their attorney and then play ball. Call their bluff and threaten to stop making payments on both loans, if necessary.
Perhaps you can gain the upper-hand here this way. Just thinking out loud … If this tactic works, you will have only have your 1st TD left to pay on your condo and can recover your downpayment upon sale … whenever you desire.
All’s fair in love and war…
May 19, 2011 at 2:26 PM in reply to: Ex-in-laws (3rd party creditors) want to foreclose on my condo #697030bearishgurl
Participant[quote=bearishgurl]If this $85K is not addressed in the OP’s MSA, I think he should file for a “characterization hg” (of the 2640 amt). He can then file an abstract on the ex for whatever judgment is awarded to him and then get a writ of execution and lien her wages for payments until it is paid off (assuming other creditors have not already liened her wages). But he should only do this AFTER the negative real property issue is disposed of … in that order.[/quote]
On second thought, how about doing this right away, since you have the proof for $85K? Get the judgment against your ex ASAP. Then file the abstract and obtain your writ of execution. When her employer is served and calls her into HR, she will likely complain to her parents about it.
Then use this judgment as “leverage” against the parents – the parents execute a full reconveyance and the OP executes a Satisfaction of Judgment simultaneously in HIS attorney’s office with the bright sun streaming thru the windows. The parents will balk first, then consult their attorney and then play ball. Call their bluff and threaten to stop making payments on both loans, if necessary.
Perhaps you can gain the upper-hand here this way. Just thinking out loud … If this tactic works, you will have only have your 1st TD left to pay on your condo and can recover your downpayment upon sale … whenever you desire.
All’s fair in love and war…
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