Hello, I have a question concerning my mortgage on my home.
I have moved out of my house and into an apartment, since June of 2013.
I have been struggling with making both mortgage and apartment payments, yet have managed. I recently contacted my lender, Bank of America, explained my situation and asked what my options were. I told them I didn’t want to foreclose on the property but would be willing too. They asked if I had try to sell the house. No, I haven’t tried to sell the house because my wife and her grown adult kids and nephew were living in the house. The bank, debt collector, said that I should be able to sell the house, since the LOAN is solely in my name only, and the loan takes precedence over the the Deed of Trust, which both our names are on. I was under the assumption that I could not sell the house without the consent of my wife.
Bank of America sent a package to my HOUSE, where the wife is living. Since then, now wife is willing to help pay the mortgage, only principal and interest. Which is a lot better than nothing. I had mediation set up in December, but she chose not to go.
Being in the military, i was offered assistance, but I don’t qualify because of not living in the house.
My thoughts, are they should pay for the house as if it was being rented to them, am I off base here? Is this an option?
Which, leads to my question, “What are my rights and what are my options?”