DUNEDIN, FL. – A Tampa bankruptcy attorney has been sued by his ex-wife who alleges he secretly obtained a home equity line of credit on a Dunedin home they owned jointly.
In Marsha A. Ford v. Buddy D. Ford and Wells Fargo Bank, N.A., Mrs. Ford filed for divorce on October 3, 2007. The marriage was officially dissolved on October 16, 2008. In 2004, the couple purchased a Dunedin home as joint owners.
According to the lawsuit, on or about August 2007, Buddy Ford secured a home equity line of credit of up to $190,000 with the house used as security. The lawsuit states that the mortgage loan was “completed without the knowledge or consent of Plaintiff Marsha A. Ford just prior to the institution of their dissolution action.” The lawsuit also states “This Home Equity Line of Credit Mortgage was later recorded after a significant delay on March 19, 2008…”
Part of the mortgage loan’s language, to which Buddy Ford applied his signature, states, “Grantor covenants that Grantor is lawfully seized of the estate hereby conveyed and has the right to grant and convey the property.”
Buddy Ford had agreed to give Marsha A. Ford the house upon dissolution of the marriage. At that time, she was given full title to the house. The house served as a rental property.
But now, Mrs. Ford wishes to sell the house, only to have discovered the allegedly ill-gotten mortgage loan must be paid. Her lawsuit demands over $30,000 excluding interest and costs.
But Buddy Ford denies the mortgage loan was obtained in secret.
In a statement to The Free Press, he said, “The loan officer for Wells Fargo, Susan Curry, knew Marsha, came to our house for BBQs and for whatever reason never asked her to sign on the loan. The proceeds went for joint debts, I serviced the loan for years, she collected the rents and when the house was sold the loan was to be satisfied…She is trying to sell the property without paying the loan. She is denying these facts…We agreed when the rental was sold the loan would be satisfied if I maintained the payments although Marsha collected 100% of the rent.”
Attorney for the Plaintiff is Joseph R. Park of Park, Ossian, Barnaky, and Park, Clearwater, Florida. Attorney for Buddy Ford is Thomas A. Roman of Roman and Roman, Clearwater. Wells Fargo’s attorney in the case is Shaib Y. Rios of Brock and Scott, Fort Lauderdale.
Buddy Ford’s website indicates he has been in practice since 1987. The Florida Bar has no record of disciplinary action for the past ten years. Wells Fargo assumed the mortgage loan in this case by absorbing Wachovia Bank in 2011.
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