Posted on: 25th Sep, 2008 04:12 am
My name is on the mortgage but not the note. Is it right for my name to be on the forclosure?...My brother purchased a home at that time my name was put on the deed and at that time my name was on the mortgage as notifying me that the mortgage was being put on the house. Back in July 2007 I quit claimed the property back to him. Then in March of this year he got forclosed on. My name has been put on the forclosure deed. Is this right? I'm not on the note.
hi sellminetoo!
you have only quitclaimed the property in your brother's name. this does not mean that you have transferred the mortgage. you should have gone through the process of novation or refinancing in order to remove your name from the mortgage. as you did not do so, your name is in the foreclosure deed.
have your lender decided on the sale date?
thanks,
jerry
you have only quitclaimed the property in your brother's name. this does not mean that you have transferred the mortgage. you should have gone through the process of novation or refinancing in order to remove your name from the mortgage. as you did not do so, your name is in the foreclosure deed.
have your lender decided on the sale date?
thanks,
jerry
The bank never used my social security # and nothing is on my credit report. I'm not on the note.
inasmuch as you were one of the owners of record at the time the mortgage was granted, that's the likely reason you're noted on the foreclosure notice.
not every title searcher does a perfect job every time out. they may have missed the quit claim deed. you ought to contact the attorneys' office handling this action to clarify with them. if you have your own attorney, that would probably help.
not every title searcher does a perfect job every time out. they may have missed the quit claim deed. you ought to contact the attorneys' office handling this action to clarify with them. if you have your own attorney, that would probably help.
Hello sellminetoo as was mentioned above you are going to need legal assistance. Don't try to fix this yourself. I private messaged you I have some ideas.