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Mortgage Community Forums | Mortgage Problems and Solutions | are all signatures from the close of a second mortgage loan necessary to reaffirm a defaulted loan if the loan itself is only in one of the persons name

are all signatures from the close of a second mortgage loan necessary to reaffirm a defaulted loan if the loan itself is only in one of the persons name

Posted on: 30th Aug, 2009 05:37 am
i am divorcing my spouse. he defaulted on the second mortgage due to unemployment . my signature was necessary to get the loan but the loan itself was in his name only. he renegotiated the loan and i am assuming its terms, because the loan amount is now different. wouldn't my signature be necessary on this redo of the loan? i have no idea what the interest rate, length or terms of this loan are now and my home is the collateral.
i have kept the primary loan without any problem.
if you are one of the co-borrowers of the loan and if you want to refinance it in your name, then your signatures would be required in the loan docs. you should speak to the lender and get to know the terms and conditions of the loan.
Niicss
Posted on: 31st Aug, 2009 01:23 am
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