I have a situation where I'm divorced and under court ruling, the house would belong to me starting Jan 2011. The ex do not want the house. I dont mind keeping it if it makes financial sense and i will assume the loan.
Details of situation:
Chase Loan: (was WAMU/Ocwen) 80/20 Loan fixed
Interest rate 6.25% / 2.5%
The loan balance is about 350,000 but appraised at 280k range.
I was denied refinance to remove the ex off the loan. She wants to be removed.
I am behind in payments since last year.
And I am considering filing for bankruptcy in a few months.
I just heard of quit claim deed and considering trying to do this along with loan modification but not sure whats best steps.
I have looked at some loan modification services but many had such horrible ratings or known to be scams.
Can anyone give me a direction or strategy to deploy with Chase? I can give more information if needed.