DH and I started Dave Ramsey just a few weeks ago. Oct 1 will be the first time since June that we are able to pay our rent and most of our bills on time with a few pennies left over to start our baby e-fund. We're not in a position to do much.
Excellent!
I was able to reach the realtor for the house. She said it isn't being sold by the bank, but that it does say "sale contingent upon creditor's approval." I'm taking that as a good sign, that he decided to sell without telling me, and the bank hasn't officially taken over yet. I'll call them tonight and see what I need to do.
Actually - I think you might not want to do that just yet.
You're in no position to do anything about it, as you just said, so why wake up the dogs. If they get your contact info, they'll be calling you at all hours giving you grief over this, demanding payment. If he's selling it and finds a buyer and the creditor accepts the sale - or even better if it pays off the loan - the problem goes away.
So I'm hoping if I call and plead with the bank I can get some kind of payment plan or allowance that will buy me some time while they try to sell the house. Unfortunately, based on the pics online, he didn't do some necessary repairs and it needs some work done that will make it a hard sell. It's so sad. It's a quad-level in a great neighborhood. We got it for a great price, but considering the new damages, I don't know that they'll be able to sell it for the same in this market. I'd rent it out to cover some of the mortgage, but with the quitclaim I don't think that's an option for me. And I don't have the money to cover the damages he's caused.
Your quit claim means you have no rights with regard to the property, only liability on the mortgage. If the bank isn't calling you about it, let it be for now.
Now its *possible* that the bank may find you and start hassling you - but given your situation, if they do come to you, then I think you could start off with two things:
1) The quit claim; and
2) Your budget for the last few months.
And then say, "Look, my ex husband was supposed to refinance this and get me off the mortgage. I'm sorry he didn't, but I am NOT supposed to be liable for this house anymore. Look at my budget. There's no way I can pay this. If you try to force me too, then I'm just going to have to declare bankruptcy and you'll have to spend money in court on that and you can see there's nothing left for me to pay you with anyway...so ... what do you want to do?"
But if they haven't reached out to you yet, why worry about it?
Yeah - you screwed up with the QC - ok, everyone screws up with money at some point. But you *were* supposed to be off of that mortgage - the ex let you down just like he let everyone else down. In your case, I don't see that you have any *moral* obligation to this debt, even though you do still have a legal one. I dunno how that would stand up in court, but w/ the quit claim, your budget, and the fact that stones don't give blood, honestly what's the worst thing that could happen if you *do* get forced into bankruptcy? Your credit is shot - and you already recognize that's not that important - and you get a break on your finances and a chance to even maybe get ahead and make restitution in the future.
I'm NOT advocating BR mind you - just saying, if they force your hand...so be it.