Posted on: 31st Jul, 2010 02:50 pm
After my husband's death last year I found out that mortgage loan was just under his name. My name is on special warranty deed after the will was probated. I have been paying mortgage and am not behind. Every time I call the mortgage company, they give me hard time about not having my name on loan and won't give me any information I need. They want me to do assumption of loan thing. I don't have a job right now and I am afraid I would get behind on my payments. I would like to sell my house but I won't be able to get what I owe, so I am thinking about short sale. Is it going to ruin my credit if I do a short sale on my house without assuming the loan?
Hi Katieh,
Your name is not mentioned on the mortgage docs. In that case, you're not personally liable for the mortgage dues. You can short sale the property in order to get rid of it.
Thanks
Your name is not mentioned on the mortgage docs. In that case, you're not personally liable for the mortgage dues. You can short sale the property in order to get rid of it.
Thanks