Posted on: 31st Dec, 2010 04:12 am
I am in the process of purchasing a short sale home. I have been legally separated for 4 yrs. I originally purchased a home w/ my estranged wife in 2003, but later filed for legal separation in 2005. I signed an interspousal transfer deed granting her sole ownership of the home. That home recently sold at a trustee sale as a result of foreclosure last Oct 2010. My name was recorded as being a trustor on that home although my wife had refinanced only in her name. Didn't signing the interspousal transfer deed relieve me of any legal obligations from this property? Shouldn't my name not have been on the Trustee Sale notice? I need help quick! Its recorded in public records, but not on my credit report. I have excellent credit, but the bank won't approve my loan b/c of that. What do I do?
Hi mzalyma!
Welcome to forums!
If you signed the inter-spousal transfer deed and if your wife had refinanced the mortgage solely in her name, then she will be solely responsible for the property. You are not responsible for the property and the loan in any way. If it is not mentioned in your credit report, then you don't have to worry about it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you signed the inter-spousal transfer deed and if your wife had refinanced the mortgage solely in her name, then she will be solely responsible for the property. You are not responsible for the property and the loan in any way. If it is not mentioned in your credit report, then you don't have to worry about it.
Feel free to ask if you've further queries.
Sussane
Thanks Sussane for your response. I have been denied the home loan b/c that foreclosure appeared in my name under public records (although not on my credit). Whoever did the recording did not do their research before filing the trustee sale notice. I provided the bank with the Interspousal Transfer Deed AND Quitcliam Deed AND Refi Note with only wife's name, but still denied. Do you think I'll get denied regardless of which bank I go to providing them with all those documents?
Forgot to mention that I'm in California. Any advice on my situation is greatly appreciated.