Posted on: 01st Jul, 2011 07:42 am
I am married ,17 yrs ago I purchased a home in my name only.At the closing my wife did not sign any documents releasing her Dower rights.Now 17 yrs later i've retired and having a difficult time maintaining my mortage. If the bank forecloses on me will they be able to take our home from my wife since she did not release her dower rights 17 yrs ago?my wife name is not on the mortage or the deed.
Thank you
Derek
Thank you
Derek
The lender has a right to recover the property when payments are defaulted. If you have a deed of trust with the power of sale clause, the lenders only recourse is the property, unless you live in a deficiency judgement state that allows the collection of judgements. I dont fully understand your question, your wife has another property that the one in question? If so, the lender cannot attach to another property, unless they can allow deficiency judgement.