Posted on: 21st Jul, 2009 08:00 pm
I'm in the middle of a divorce in the state of California and the only asset we had together was the house. I am on the deed but not the loan, at least that's what I thought. Unfortunately I don't have the loan docs but I do remember signing a few papers during escrow and with the broker who got us the loan. I specifically requested that the loan not be in my name because I had other financial obligations so I could not bind myself to the loan. Also when I called the bank who has the loan only my soon to be ex shows up on the loan bill monthly and on file. I do have the a copy of the deed that has some docs attached to it with my signature as seal borrower, but I don't even know what that means. I'm a little confused as to what I signed and what I am financially bounded too. HELP!!!!!
THANKS,
GOING THROUGH THE BIG D
THANKS,
GOING THROUGH THE BIG D
Hi Guest,
You are responsible for the loan only if you had signed the mortgage note. If you have signed on mortgage documents, but not on the mortgage note, you do not have any financial obligation towards the loan. The fact that your soon-to-be ex's name shows up on the loan bills and on the file, suggests that your ex is the one responsible for the loan. You can call up your lender and check if your name is on the mortgage note. You can also check your credit report and see if the mortgage appears on the report.
You are responsible for the loan only if you had signed the mortgage note. If you have signed on mortgage documents, but not on the mortgage note, you do not have any financial obligation towards the loan. The fact that your soon-to-be ex's name shows up on the loan bills and on the file, suggests that your ex is the one responsible for the loan. You can call up your lender and check if your name is on the mortgage note. You can also check your credit report and see if the mortgage appears on the report.