Posted on: 02nd Dec, 2008 09:06am
Sometimes it may be the case that your name is on the property deed but not on the mortgage loan. In such situation, one pertinent question that may come to your mind is that, “Am I responsible for the mortgage dues?†The answer is no. You are not at all responsible for paying the mortgage dues, though you have ownership rights in the property.
But in the event of any legal action taken against the property such as foreclosure, responsibility will lie on you too, since you are an owner. In case of foreclosure of the property, your credit position will be negatively hit.
But in the event of any legal action taken against the property such as foreclosure, responsibility will lie on you too, since you are an owner. In case of foreclosure of the property, your credit position will be negatively hit.
My Name is On Deed, But not Loan, am I responsible for past loans against my house?...My husband recently put my name on the Deed to our House. I was never on the loan papers. If he made a loan using our home as collateral prior to our marriage would I be responsible for payment of that note?
The house is in my name and loans are in my mother's name. She passed away almost 7 years ago so I have been paying the loans. Am I responsible for paying these loans?
My name is not on the mortgage,I my name is on the deed and recently found out he is not paying for the association fees and they said i owe that money. I never new about this until I was serve paper to show up on court .He never submitted the papers where I sign of my name out of the title what can I do quickly to take my name out of the Title before it goes on foreclosure. :evil:
Hi Jma,
A similar query has been replied to in the given page: http://www.mortgagefit.com/Refinancing-and-Second-mortgage/Am-I-responsible.html . Take a look at it. I hope it will help you.
Welcome AHHHHH,
The deed where you removed your name from the property deed and transferred the property to your husband needs to be recorded in the court house. This will help you in removing your name from the deed
A similar query has been replied to in the given page: http://www.mortgagefit.com/Refinancing-and-Second-mortgage/Am-I-responsible.html . Take a look at it. I hope it will help you.
Welcome AHHHHH,
The deed where you removed your name from the property deed and transferred the property to your husband needs to be recorded in the court house. This will help you in removing your name from the deed
My brother is to inherit my parents house via their will when they pass. Problem is , the house has a large second mortgage and we were wondering if he would be responsible for the house payments ect , due to the will naming him as the beneficiary of the house ? . He is very concerned due to his financial situation with his own payments ...
Hi Marsha,
He will either have to refinance or assume the loan and pay it off. If the loan is not paid off on time, then the lender will have the rights to foreclose the property.
Thanks
He will either have to refinance or assume the loan and pay it off. If the loan is not paid off on time, then the lender will have the rights to foreclose the property.
Thanks
husband on mortgage note, i am on deed. he filed bankruptcy and got a discharge , how do i get my name off deed? thanks
Hi suzy,
You can transfer your share of the property to your husband and get rid of the property. The lender will not be able to come after you for the payments as your name was not mentioned on the mortgage docs.
Thanks
You can transfer your share of the property to your husband and get rid of the property. The lender will not be able to come after you for the payments as your name was not mentioned on the mortgage docs.
Thanks
Ex husband applied for a modification loan. My name is still on deed. Resently found out that my signature was signed on application and lian agreement. (I did not sign). What are my choices to rectify?
Hi SMM!
Welcome to the forums!
If you haven't signed on the docs, then it is surprising that your sign is on the application and loan agreement. You should check out how it happened and if any fraud is involved in it.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
If you haven't signed on the docs, then it is surprising that your sign is on the application and loan agreement. You should check out how it happened and if any fraud is involved in it.
Feel free to ask if you've further queries.
Sussane
What right do my husband have to my mothers propery by signing on a re financing with me .my mother is on morgage .
Hi Snow,
If your husband's name is mentioned on the property deed, then he will have ownership rights to the property.
Thanks
If your husband's name is mentioned on the property deed, then he will have ownership rights to the property.
Thanks
my husband left me and left the house to me, my name is on the deed but not on the loan i have been paying it for 4 yrs now myself, how do i go about taking over the loan and taking his name of it...
Hi eve!
Welcome to the forums!
You will have to refinance the loan in your name and take over the mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
You will have to refinance the loan in your name and take over the mortgage.
Feel free to ask if you've further queries.
Sussane
I divorced 2 years ago. We still own a house and my ex in not on the mortgage, just me but we are both on the deed. The loan has been in default since Dec 2010. She wants to get her name off the deed. We are in Massachusetts. Does she have any liability if the house forcloses and her name is still on the deed? Thank you
Below is a question I posted before I registered. In the question I meant to also ask if my ex can simply take her name off the deed as she in not on the mortgage? Here is what I posted earlier:
I divorced 2 years ago. We still own a house and my ex in not on the mortgage, just me but we are both on the deed. The loan has been in default since Dec 2010. She wants to get her name off the deed. We are in Massachusetts. Does she have any liability if the house forcloses and her name is still on the deed? Thank you
I divorced 2 years ago. We still own a house and my ex in not on the mortgage, just me but we are both on the deed. The loan has been in default since Dec 2010. She wants to get her name off the deed. We are in Massachusetts. Does she have any liability if the house forcloses and her name is still on the deed? Thank you