Posted on: 22nd Dec, 2009 07:01 pm
My ex fiance purchased a house for us when we got engaged. I was not going to be on the morgage or deed until we were married. My name was mistakenly put on the deed but never on the morgage. I did not go to the closing and did not sign anything to have my name put onto the deed. Once we realized I was on the deed we did not remove it right away. He ended up taking a line of credit out which I had to sign along with him. Two years later we broke up and I took my name off the deed. He is now foreclosing on the house. I was summoned with papers that imply I am his wife and could be held responsible. We were never married. Could I be held responsible? What can happen to me? We live in new jersey.
Hi TLN!
Welcome to forums!
You have mentioned that when both of you broke off, you took your name off the property deed. But I guess, you haven't removed your name from the mortgage docs. As a result, you will be considered as a co-borrower of loan and if the property is foreclosed upon, your credit score will be negatively affected. Moreover, the lender can sue you for the balance amount resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You have mentioned that when both of you broke off, you took your name off the property deed. But I guess, you haven't removed your name from the mortgage docs. As a result, you will be considered as a co-borrower of loan and if the property is foreclosed upon, your credit score will be negatively affected. Moreover, the lender can sue you for the balance amount resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane
sussane...she said she wasn't even at the closing. consequently, she cannot be a party to any of the mortgage documents. nonetheless, this is problematic.
i wonder how the bank was able to properly document its mortgage without her signature on the mortgage deed. in order for a foreclosure action to take place in a case like this, they've got to go through some extraordinary hoops to prove their case. if the mortgage itself (not the loan) is only in one name, but the property was vested in both names, then their suit against TLN is going to be fruitless.
and, of course, TLN indicated that she was removed from title subsequent to the date of the mortgage, but prior to the default in payments.
TLN, i hope you have a lawyer working for you - a real estate lawyer - because someone has to be able to navigate through this mess for you. you certainly cannot do it on your own.
i wonder how the bank was able to properly document its mortgage without her signature on the mortgage deed. in order for a foreclosure action to take place in a case like this, they've got to go through some extraordinary hoops to prove their case. if the mortgage itself (not the loan) is only in one name, but the property was vested in both names, then their suit against TLN is going to be fruitless.
and, of course, TLN indicated that she was removed from title subsequent to the date of the mortgage, but prior to the default in payments.
TLN, i hope you have a lawyer working for you - a real estate lawyer - because someone has to be able to navigate through this mess for you. you certainly cannot do it on your own.
