Posted on: 03rd Oct, 2009 06:01 pm
We bought a house in TX and the mortgage loan is only in my ex-husbands name. In the divorce I was given the house and now it solely appears in my name in the county records office. If he defaults on the loan can the mortgage company take away my house.
you need to refinance the mortgage in your name. otherwise, they can foreclose the house in the event of his default
Yes the mortage compnay can take away the house if he defulta
The best option is to refiannce the loan in yoru name and make payments to protect your house
The best option is to refiannce the loan in yoru name and make payments to protect your house
Now you are owner of house. Therefore responsible for monthly mortgage payment. it is not your Ex's job.
Get it refinanced in your name & make timely payments
Get it refinanced in your name & make timely payments
To lizyweezy,
The lender can surely foreclose on your house, if your husband defaults on the loan. Though the title to the property has got changed in your name, the mortgage lien has not got removed from the property. The property is still a security for the loan and will be foreclosed if the lien is not paid off. If you can afford the mortgage, you should get it refinanced in your name. The current mortgage interest rates are also quite low.
The lender can surely foreclose on your house, if your husband defaults on the loan. Though the title to the property has got changed in your name, the mortgage lien has not got removed from the property. The property is still a security for the loan and will be foreclosed if the lien is not paid off. If you can afford the mortgage, you should get it refinanced in your name. The current mortgage interest rates are also quite low.