Posted on: 02nd Oct, 2012 08:57 am
Hi
Unlike the last question I read I have never been on my husbands loan or deed however they did discuss the loan on the phone with me and have now added my name in the foreclosure notice in the paper . Can they do this
Unlike the last question I read I have never been on my husbands loan or deed however they did discuss the loan on the phone with me and have now added my name in the foreclosure notice in the paper . Can they do this
Hi joyrr,
If your name is not mentioned on the property deed or the mortgage docs, then your name can't be included in foreclosure. The lender can't even report the foreclosure to your credit report. If he does so, it will be considered as illegal.
Thanks
If your name is not mentioned on the property deed or the mortgage docs, then your name can't be included in foreclosure. The lender can't even report the foreclosure to your credit report. If he does so, it will be considered as illegal.
Thanks
Hi joyrr!
Welcome to forums!
James is correct in saying so. If your name is not mentioned on the loan docs as a borrower, then you won't be considered as one of the borrowers of the loan. As a result, you won't be liable for paying that loan. In such a situation, they can't include your name in the foreclosure docs and make you liable for it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
James is correct in saying so. If your name is not mentioned on the loan docs as a borrower, then you won't be considered as one of the borrowers of the loan. As a result, you won't be liable for paying that loan. In such a situation, they can't include your name in the foreclosure docs and make you liable for it.
Feel free to ask if you've further queries.
Sussane
If you are located in a "dower interest" state, your name, as spouse, MUST be included in the suit to "clear title". Not a liability issue but a title issue.