Posted on: 29th Aug, 2011 03:24 pm
I'm not on Deed nor Mortgage. Years ago I had to "sign off". Since my name isn't on Deed nor Mortgage am I responsible for the debt? Also, home is going into foreclosure - how does that affect me credit wise?
Hi lwdj!
Welcome to forums!
As your name is not mentioned on the property deed as well as the mortgage docs, you're in no way responsible for the mortgage payments. Even though the property is foreclosed, it won't affect you and the lender won't be able to come after you for the deficient balance resulting from the property sale.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As your name is not mentioned on the property deed as well as the mortgage docs, you're in no way responsible for the mortgage payments. Even though the property is foreclosed, it won't affect you and the lender won't be able to come after you for the deficient balance resulting from the property sale.
Feel free to ask if you've further queries.
Sussane