Posted on: 16th Sep, 2009 04:14 pm
I quit-claimed the title to the condo after our divorce. My ex-husband is now in foreclosure and never refinanced the mortgage in his name only. I signed the mortgage papers, but not the Note. Am I financially responsible? Will this affect my credit? I was just served a notice by the Bank's foreclosure attorney.
Hi Guest,
You've mentioned that your ex-husband never refinanced the loan solely in his name. In such a situation, your name is still on the mortgage deed. So, you are financially responsible for the loan. If the lender forecloses the property, your credit will be affected. It will get lowered by 250 points.
You've mentioned that your ex-husband never refinanced the loan solely in his name. In such a situation, your name is still on the mortgage deed. So, you are financially responsible for the loan. If the lender forecloses the property, your credit will be affected. It will get lowered by 250 points.
YES GUEST, YOU ARE TH RESPOSIBLE FOR MORTAGE LOAN BECAUSE YOUR NAME IS ON DEED. THIS WILL AFFECT YOUR CREDIT.
BETTER WAY FOR NEXT TRY TO TAKE ADVOICE FROM EXPERT AND LAWER
THANK
SONI
BETTER WAY FOR NEXT TRY TO TAKE ADVOICE FROM EXPERT AND LAWER
THANK
SONI
Check your divorce papers. If you gave the house to him and quit claimed the deed, in the papers it might also say that he is responsible in full for all debts associated with the house. You may just have to present your divorce papers to the mortgage company.
If that isn't in your papers and he recieved the house in the divorce, you may be able to go to a divorce attorney to straighten out the matter.
If that isn't in your papers and he recieved the house in the divorce, you may be able to go to a divorce attorney to straighten out the matter.
you are financial responsible...you will need to take him to court probably check with an attorney on your remediation.
pl contact your divorce attorney. you have mentioned that you have signed mortgage paper. Why?
I do not think there is anythign the attorneycan do at this time
Your name is on the mortgage still and it will affect yoru credit report and you are equally laible to pay any deficient amount to the lenders
Your name is on the mortgage still and it will affect yoru credit report and you are equally laible to pay any deficient amount to the lenders