Posted on: 25th Jul, 2010 07:52 pm
We reside in NJ. When we bought the home 5.5 years ago--my husband financed it soley in his name with his credit & income. I was instructed to sign the mortgage because in the state of NJ that is law (said by our atty). I have never been allowed to discuss the account without getting my husband's consent (each & every time). The mortgage doesn't appear on my credit bureaus. Now my husband lost his job and we are facing a foreclosure. We are wondering if they will ruin my credit too so that I won't be able to purchase a home after this is over either. Can they make me responsible for a loan I couldn't even discuss? How do they even get my social security number?
You are not on the NOTE and are not responsible to pay. It is not on your credit report because you are not responsible to pay.
Your attorney correctly had you sign the MORTGAGE. Is is actually the lender's requirement. When you signed the mortgage, you were simply agreeing to give up the property in the event of fopreclosure. You were not signing anything that would make you responsible for paying the mortgage.
Your attorney correctly had you sign the MORTGAGE. Is is actually the lender's requirement. When you signed the mortgage, you were simply agreeing to give up the property in the event of fopreclosure. You were not signing anything that would make you responsible for paying the mortgage.