Posted on: 02nd Jan, 2011 06:27 pm
I am legally separated and obtained the house. I found out that my name is not on the mortgage, but is on the deed of trust. My ex-spouse is the only name on the note. In the state of NC am I liable for the payments if I can't make them or will the bank forclose on him??
Hi mtn,
If your ex-spouse is the sole borrower of the mortgage, you won't be liable for the mortgage payments. The lender won't be able to come after you for the loan payments. However, if the mortgage is not paid on time, then the lender can foreclose the property to recover his dues.
If your ex-spouse is the sole borrower of the mortgage, you won't be liable for the mortgage payments. The lender won't be able to come after you for the loan payments. However, if the mortgage is not paid on time, then the lender can foreclose the property to recover his dues.