NEED TO FIND SPOUSE!!!

[Jonathan Sowinski]

Hi all, it’s been a while since I last posted to the forums and thought I would share an interesting situation I came across with the BP world. As the title states…I am looking for a spouse, not for me as I already have a wonderful and loving wife, and technically I am looking for an ex-spouse.

The scenario is: A property in a great neighborhood is owned by a divorced husband and wife, both are still listed on deed and mortgage (neither one lives there). Mortgage has since defaulted, gone into receivership and has a payoff well below market value, (it will most likely go to auction in February or so).

I was able to speak with the wife and she wants out but apparently the husband split post-divorce and can’t be found. From what I can tell she wants nothing to do with the property and wants to avoid foreclosure but obviously needs husband to sign-off on any sale…so I need to find the ex-spouse.

So anyone have any suggestions as to how to:

  A.   Structure a deal now with wife?

  B.  Find ex-husband?

  C.  Convince him to agree to a sale?

Of course if anyone has any other strategies for getting this property sold I would love to hear them…I was looking into possibly getting her to transferring her partial interest to me but it didn't seem like that would be a good idea.

I obviously need some more info like the details of the divorce settlement before I commit but wanted to see if it may be worth the time/effort chasing this?

Either way any insight would be appreciated, thanks.

[Wayne Brooks]

Right, it was in the divorce decree, or it wasn't.  Finding the husband is the easiest route.  Check title for other liens, taxes, etc. first.