California | Credit and Debt Law
Legal Question
House on foreclosure
Our house is on foreclosure. We got divorced late last year. Ex-husband is still living in the house & let it foreclosed. We have an equity loan from another bank. The money we took out went to the pool construction which become a fixture. Ex-husband did not consolidate the 2 loans when we refinanced. Ex-husband is depending solely on retirement check from the military & I was laid off. The bank where we took the equity loan told me that they can still go after me eventhough the house is foreclosed by the first bank & they want all the balance paid in full. I can not afford to pay it & ex-husband does not care. What are my options to get out of the equity loan? I am willing to negotiate & pay a fraction of the loan since I do not get anything from it. The amount we spent in the pool is way more than the loan we took out. Thank you.
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