Unique Situation Due to Divorce

[David Weintraub]

Man calls me today and here's his issue. He's on the deed, wife on mortgage. They're divorced and she stopped paying last two months; didn't tell him. He's worried foreclosure proceedings are going to begin shortly. Owe another $100k on house that's worth $180. Has some equity there. She's out of picture. A judge has given him authority on all the assets, so now it's his mess. called me to refinance; find a way out. He also happens to own a property he rents out and owns free and clear. Says the value is about $140k He has until the end of the month to figure out the residence problem. He didn't say what would transpire. Trying to plan a way to attack this for him. Credit in low 7s.