Brian, I was wondering if you could answer a question for me that I keep ge
Brian, I was wondering if you could answer a question for me that I keep ge
Brian, I was wondering if you could answer a question for me that I keep getting conflicting answers to. If I am not on a note or a deed, but on the mortgage, am I on title to the property? If the property is foreclosed on, will I be part of the foreclosure process even though I am not on the note or the deed? Will this affect my credit?
3 Answers
Votes
Older
Newer
1
The two are seperate - however if you are on the mortgage and it forecloses you will be hurt on credit as a result. If on the mortgage you are financially accountable for the payment.
I am a little confused though
the note is the mortgage - the deed is the title
if you are on the mortgage you are on the note
if you are on the deed you are on title
B
1
The mortgage and note are two separate documents. The note is the obligation to pay -- the mortgage secures the property to the note. I am not on the note (obligation to pay), note on the deed, only on the mortgage.