Posted on: 23rd Oct, 2010 11:44 am
My husband and I are divorcing. We have a foreclosed property in California. The home was purchased at $485,000 and was worth only about $285,000 when we moved back to Oklahoma. We have not heard from the bank in 2 1/2 years. My name is on the title but not the loan. Will the bank be able to come after me for any difference? Should I file bankruptcy?
Hi asheehy!
Welcome to forums!
As your name is only mentioned on the property deed, the lender won't be able to come after you for the deficient balance resulting from the foreclosure sale.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As your name is only mentioned on the property deed, the lender won't be able to come after you for the deficient balance resulting from the foreclosure sale.
Feel free to ask if you've further queries.
Sussane