A pending divorce in the pre-foreclosure

[Mark Enriquez]

Hi,

I'm approaching the owners on a pre-foreclosure, both owners, each at different addresses. They are going through divorce and foreclosure. I assume the foreclosure is stemming from their divorce. It is saddening. 

I did the title search on the property, and the Husband owns the house, took title as married, wife was not listed as a grantee, but Ohio is a dower state. She did sign her dower rights off but only in regards to the mortgage. She now resides at the property while the husband has moved out.

To add a little pressure, the default hearing is set for February 21st. Not a lot of time. I do not want this property reach that point. 

So I have two questions. If I can get this house under contract, could the judgment of default be delayed? Will putting the house under contract have any affect on the pre-foreclosure? 

Secondly, can the divorce kill the deal? I imagine it can. I imagine a full list of ways it can kill deal, but I'm just not sure. I do know the divorce won't stop the foreclosure, but how about a sale? 

thanks,

mark

[Brett Goldsmith]

Depending on many factors and what owners/borrowers are willing to do the sale date could potentially be delayed. All owners on title and people on the loan need to cooperate. If the divorce is nasty and one borrower or owner doesn't cooperate that is where the problem occurs.