Posted on: 22nd Sep, 2010 09:47 pm
I bought a condo as our primary residence in 2007 and the deed and mortgage is in my name and during closing my husband had signed a acknowledgement form stating that he is aware of my mortgage. the property is on short sale process now.He bought a property in his name only on jan 2010.and I also signed the acknoledgement form that I was aware of mortgage, but my name is not on deed or mortgage.when the bank finish the short sale on the condo, can they put lien on my husbands house or come after me for deficiency judgement. I lost my job in 2008 and and couldnt get loan modification approved and I never had homestead for the cond. please help
Hi BBYRDRGS,
If your name is not mentioned on the deed of your husband's property, then you won't be considered as an owner of the property. In such a situation, the lender won't come after your husband's property and place a lien on it if you're unable to pay off the balance amount resulting from the mortgage. The lender will, however, come after you for recovering the balance amount.
Take care.
If your name is not mentioned on the deed of your husband's property, then you won't be considered as an owner of the property. In such a situation, the lender won't come after your husband's property and place a lien on it if you're unable to pay off the balance amount resulting from the mortgage. The lender will, however, come after you for recovering the balance amount.
Take care.